Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in Installed Building Products, Inc. (NYSE:IBP) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,839 shares of the construction company’s stock after selling 1,118 shares during the period. Legal & General Group Plc owned 0.25% of Installed Building Products worth $12,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Curio Wealth LLC purchased a new position in Installed Building Products in the fourth quarter valued at $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Installed Building Products by 295.7% in 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. Headlands Technologies LLC raised its position in shares of Installed Building Products by 819.0% during the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. lifted its stake in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after purchasing an additional 186 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in Installed Building Products in the third quarter valued at approximately $203,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBP. The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price objective for the company. Loop Capital cut their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Benchmark decreased their target price on 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $216.09.

Installed Building Products Trading Down 4.6 %

NYSE:IBP opened at $156.41 on Thursday. Installed Building Products, Inc. has a 12-month low of $153.40 and a 12-month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock’s 50 day simple moving average is $171.66 and its 200-day simple moving average is $196.31. The firm has a market cap of $4.32 billion, a P/E ratio of 17.38 and a beta of 1.84.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.95%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is presently 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.