Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in Installed Building Products, Inc. (NYSE:IBP) by 46.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,041 shares of the construction company’s stock after selling 71,940 shares during the period. Nuveen Asset Management LLC owned 0.29% of Installed Building Products worth $14,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBP. Curio Wealth LLC purchased a new position in Installed Building Products in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its stake in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after acquiring an additional 272 shares during the last quarter. Headlands Technologies LLC increased its stake in Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after acquiring an additional 647 shares during the last quarter. Principal Securities Inc. increased its stake in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after acquiring an additional 186 shares during the last quarter. Finally, MGO One Seven LLC acquired a new stake in Installed Building Products during the fourth quarter worth $205,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent analyst reports. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. DA Davidson lowered their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Loop Capital dropped their target price on shares of Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 12th. Truist Financial cut their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Finally, Benchmark reduced their price objective on Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $212.45.

Installed Building Products Trading Up 0.9%

IBP opened at $156.73 on Monday. 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 one year low of $150.83 and a one year high of $281.04. The company has a market cap of $4.33 billion, a P/E ratio of 17.41 and a beta of 1.85. The business’s 50-day simple moving average is $166.59 and its 200-day simple moving average is $182.13.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same period in the previous year, the business posted $2.47 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.94%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.88%.

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.