Pitcairn Co. Sells 71 Shares of Installed Building Products, Inc. (NYSE:IBP)

Pitcairn Co. decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IBP. Norges Bank bought a new position in shares of Installed Building Products in the 4th quarter worth $28,509,000. Wellington Management Group LLP purchased a new position in Installed Building Products in the third quarter valued at about $34,635,000. Raymond James Financial Inc. bought a new position in Installed Building Products in the fourth quarter worth about $23,776,000. State Street Corp lifted its position in shares of Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after buying an additional 83,205 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Benchmark decreased their price objective 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. Loop Capital lowered their price objective on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, DA Davidson lowered their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $216.09.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $173.19 on Friday. Installed Building Products, Inc. has a 52 week low of $157.93 and a 52 week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm has a market cap of $4.81 billion, a P/E ratio of 19.24 and a beta of 1.84. The business’s 50 day moving average price is $177.57 and its 200 day moving average price is $201.05.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is presently 16.26%.

Installed Building Products 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.