Polen Capital Management LLC Sells 2,211 Shares of Installed Building Products, Inc. (NYSE:IBP)

Polen Capital Management LLC trimmed its position in Installed Building Products, Inc. (NYSE:IBP) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,752 shares of the construction company’s stock after selling 2,211 shares during the quarter. Polen Capital Management LLC owned 0.06% of Installed Building Products worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares in the last quarter. FMR LLC grew its position in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Geode Capital Management LLC raised its stake in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Installed Building Products by 25.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after acquiring an additional 83,205 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Installed Building Products by 7.5% in the 4th quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company’s stock valued at $65,449,000 after purchasing an additional 25,971 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on IBP shares. The Goldman Sachs Group dropped their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. DA Davidson dropped their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Benchmark cut their price objective on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Stock Up 1.8 %

Shares of NYSE IBP opened at $171.64 on Monday. The company has a market capitalization of $4.76 billion, a P/E ratio of 19.07 and a beta of 2.05. Installed Building Products, Inc. has a 52-week low of $159.77 and a 52-week high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company’s 50 day moving average price is $182.38 and its 200-day moving average price is $205.35.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.86%. Installed Building Products’s payout ratio is presently 16.26%.

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.