Pitcairn Co. Sells 287 Shares of Installed Building Products, Inc. (NYSE:IBP)

Pitcairn Co. cut its position in Installed Building Products, Inc. (NYSE:IBP) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,601 shares of the construction company’s stock after selling 287 shares during the quarter. Pitcairn Co.’s holdings in Installed Building Products were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products in the third quarter worth $29,000. GHP Investment Advisors Inc. raised its holdings in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. CWM LLC boosted its position in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the last quarter. Advisors Asset Management Inc. grew 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 worth $57,000 after purchasing an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Installed Building Products by 41.7% in the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after purchasing an additional 191 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBP shares. Jefferies Financial Group boosted their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.70.

Installed Building Products Stock Up 8.6 %

Shares of Installed Building Products stock opened at $235.83 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 52-week low of $145.13 and a 52-week high of $281.04. The company’s 50 day moving average price is $230.72 and its 200-day moving average price is $222.93. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 26.01 and a beta of 1.95.

Installed Building Products Dividend Announcement

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

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.