Mitsubishi UFJ Trust & Banking Corp Sells 6,400 Shares of Installed Building Products, Inc. (NYSE:IBP)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 11.4% in the 4th quarter, HoldingsChannel reports. The fund owned 49,974 shares of the construction company’s stock after selling 6,400 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Installed Building Products were worth $8,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the period. FMR LLC raised its holdings in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Installed Building Products in the third quarter valued at $247,000. Glenmede Trust Co. NA acquired a new position in shares of Installed Building Products during the third quarter valued at about $627,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Installed Building Products by 8.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,772 shares of the construction company’s stock worth $2,653,000 after acquiring an additional 805 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.8 %

NYSE IBP opened at $170.96 on Friday. The business’s fifty day moving average is $180.70 and its 200-day moving average is $202.78. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.00 and a beta of 2.05. Installed Building Products, Inc. has a one year low of $159.77 and a one year high of $281.04.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.87%. 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 payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IBP shares. The Goldman Sachs Group dropped their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Truist Financial cut their target price on 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. Loop Capital lowered their price target 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 downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Evercore ISI downgraded 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 report on Monday, December 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.