Aigen Investment Management LP Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

Aigen Investment Management LP reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 41.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,401 shares of the construction company’s stock after selling 978 shares during the period. Aigen Investment Management LP’s holdings in Installed Building Products were worth $246,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Installed Building Products by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 281,642 shares of the construction company’s stock worth $49,358,000 after buying an additional 5,259 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares during the last quarter. Flputnam Investment Management Co. purchased a new position in shares of Installed Building Products during the fourth quarter worth about $258,000. Fortress Financial Group LLC purchased a new position in shares of Installed Building Products during the fourth quarter worth about $413,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of Installed Building Products by 3.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 13,631 shares of the construction company’s stock worth $2,389,000 after purchasing an additional 486 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IBP. JPMorgan Chase & Co. boosted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Benchmark cut their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. DA Davidson reduced their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Loop Capital dropped their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $219.40.

Installed Building Products Trading Up 1.9 %

NYSE:IBP opened at $177.19 on Monday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 19.69 and a beta of 2.05. Installed Building Products, Inc. has a 52 week low of $159.76 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 company has a fifty day moving average of $182.58 and a 200 day moving average of $207.18.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio 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.