Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,397 shares of the construction company’s stock after acquiring an additional 257 shares during the period. Pictet Asset Management Holding SA’s holdings in Installed Building Products were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky boosted its holdings in Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after purchasing an additional 8,815 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Installed Building Products by 8.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company’s stock worth $923,000 after buying an additional 405 shares during the last quarter. Geode Capital Management LLC grew its holdings in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares during the period. Principal Financial Group Inc. raised its position in Installed Building Products by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock valued at $22,234,000 after acquiring an additional 4,467 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Installed Building Products by 295.7% in the fourth 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 period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 4.2 %

Shares of IBP stock opened at $157.78 on Wednesday. Installed Building Products, Inc. has a fifty-two week low of $154.01 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock’s fifty day moving average is $175.17 and its two-hundred day moving average is $199.36. The firm has a market capitalization of $4.38 billion, a P/E ratio of 17.53 and a beta of 1.84.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. 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 yield of 0.94%. Installed Building Products’s payout ratio is presently 16.26%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IBP shares. DA Davidson cut their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Loop Capital cut 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. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Truist Financial cut their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $216.09.

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.