Guinness Atkinson Asset Management Inc Trims Holdings in Installed Building Products, Inc. (NYSE:IBP)

Guinness Atkinson Asset Management Inc cut its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,710 shares of the construction company’s stock after selling 446 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Installed Building Products were worth $650,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research analyst reports. DA Davidson decreased their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group reduced their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

Installed Building Products stock opened at $196.38 on Monday. The firm has a market capitalization of $5.53 billion, a PE ratio of 21.82 and a beta of 1.98. Installed Building Products, Inc. has a one year low of $169.02 and a one year high of $281.04. The stock’s 50 day moving average price is $197.38 and its 200 day moving average price is $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 Dividend Announcement

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

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.