Pitcairn Co. Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Pitcairn Co. decreased its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,601 shares of the construction company’s stock after selling 287 shares during the period. Pitcairn Co.’s holdings in Installed Building Products were worth $641,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of IBP. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. grew its position in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. CWM LLC increased its stake in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Installed Building Products by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after buying an additional 191 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 8.6 %

IBP opened at $235.83 on Tuesday. The company has a 50 day moving average of $230.72 and a 200 day moving average of $222.93. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12 month low of $145.13 and a 12 month high of $281.04. The company has a market cap of $6.64 billion, a PE ratio of 26.01 and a beta of 1.95.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBP. Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target 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. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $253.70.

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.