Guinness Asset Management LTD Has $14.11 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Guinness Asset Management LTD cut its holdings in Installed Building Products, Inc. (NYSE:IBP) by 24.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,524 shares of the construction company’s stock after selling 25,697 shares during the period. Guinness Asset Management LTD owned approximately 0.29% of Installed Building Products worth $14,111,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its position in shares of Installed Building Products by 121.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after purchasing an additional 8,815 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Installed Building Products during the third quarter worth approximately $54,499,000. Creative Planning increased its stake in Installed Building Products by 39.6% during the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock worth $1,899,000 after acquiring an additional 2,187 shares during the period. Natixis Advisors LLC raised its holdings in Installed Building Products by 6.4% in the 3rd quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after acquiring an additional 4,451 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Installed Building Products by 54.0% in the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after acquiring an additional 16,569 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on IBP. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group upped their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average price target of $240.40.

Installed Building Products Price Performance

IBP stock opened at $196.38 on Monday. The company has a market capitalization of $5.53 billion, a P/E ratio of 21.82 and a beta of 1.98. The company has a fifty day moving average price of $197.38 and a 200-day moving average price of $218.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 52-week low of $169.02 and a 52-week high of $281.04.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s payout ratio is presently 15.56%.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.