Connor Clark & Lunn Investment Management Ltd. Sells 26,863 Shares of Installed Building Products, Inc. (NYSE:IBP)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 63.8% during the third quarter, HoldingsChannel.com reports. The fund owned 15,243 shares of the construction company’s stock after selling 26,863 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Installed Building Products were worth $3,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IBP. Global Alpha Capital Management Ltd. grew its position in shares of Installed Building Products by 1.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock valued at $16,081,000 after purchasing an additional 1,000 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Installed Building Products by 149.3% during the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock worth $19,966,000 after buying an additional 48,559 shares in the last quarter. Premier Fund Managers Ltd increased its stake in Installed Building Products by 41.6% in the 3rd quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock worth $20,051,000 after acquiring an additional 23,532 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at about $2,418,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Installed Building Products by 12,592.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,823 shares of the construction company’s stock valued at $1,188,000 after acquiring an additional 4,785 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

IBP opened at $217.09 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock’s 50 day simple moving average is $230.72 and its 200 day simple moving average is $223.09. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 24.12 and a beta of 1.95. Installed Building Products, Inc. has a 1 year low of $144.15 and a 1 year high of $281.04.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is 15.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBP. JPMorgan Chase & Co. raised their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday. DA Davidson lowered their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Truist Financial lifted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Evercore ISI increased their target price on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus target price of $253.70.

Installed Building Products Company Profile

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.