Pitcairn Co. Trims Stake in Installed Building Products, Inc. (NYSE:IBP)

Pitcairn Co. cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,530 shares of the construction company’s stock after selling 71 shares during the period. Pitcairn Co.’s holdings in Installed Building Products were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Curio Wealth LLC acquired a new position in shares of Installed Building Products in the 4th quarter valued at $30,000. Quarry LP increased its holdings in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Installed Building Products by 295.7% in 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 period. Headlands Technologies LLC boosted its stake in shares of Installed Building Products by 819.0% during the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after acquiring an additional 647 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Installed Building Products during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IBP shares. Benchmark reduced their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group reduced their target price on 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. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Truist Financial dropped their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $216.09.

Installed Building Products Stock Up 5.7 %

Shares of NYSE IBP opened at $173.19 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average of $177.57 and a 200 day moving average of $201.05. Installed Building Products, Inc. has a 12-month low of $157.93 and a 12-month high of $281.04. The stock has a market cap of $4.81 billion, a PE ratio of 19.24 and a beta of 1.84.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

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.