Installed Building Products, Inc. (NYSE:IBP) Stake Reduced by Emerald Advisers LLC

Emerald Advisers LLC trimmed its stake in Installed Building Products, Inc. (NYSE:IBP) by 25.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,835 shares of the construction company’s stock after selling 13,821 shares during the quarter. Emerald Advisers LLC’s holdings in Installed Building Products were worth $7,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc bought a new stake in Installed Building Products in the 3rd quarter valued at about $203,000. Pathstone Holdings LLC increased its stake in shares of Installed Building Products by 91.6% in the third quarter. Pathstone Holdings LLC now owns 7,102 shares of the construction company’s stock valued at $1,749,000 after purchasing an additional 3,396 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Installed Building Products by 496.2% during the third quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after buying an additional 14,024 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Installed Building Products by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after buying an additional 21,942 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 1.4 %

NYSE:IBP opened at $172.37 on Friday. The stock has a fifty day simple moving average of $182.19 and a 200 day simple moving average of $203.85. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 19.15 and a beta of 2.05. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year 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.

Installed Building Products Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBP. DA Davidson cut 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. The Goldman Sachs Group reduced 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 report on Tuesday, January 14th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Truist Financial lowered their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $219.40.

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.