PNC Financial Services Group Inc. Decreases Stake in Installed Building Products, Inc. (NYSE:IBP)

PNC Financial Services Group Inc. reduced its holdings in Installed Building Products, Inc. (NYSE:IBP) by 17.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,766 shares of the construction company’s stock after selling 602 shares during the period. PNC Financial Services Group Inc.’s holdings in Installed Building Products were worth $485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after buying an additional 272 shares in the last quarter. Quarry LP lifted its stake in shares of Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares in the last quarter. Centaurus Financial Inc. purchased a new position in shares of Installed Building Products in the third quarter worth about $111,000. Finally, Principal Securities Inc. increased its position 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. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of IBP opened at $174.00 on Thursday. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The stock has a market cap of $4.83 billion, a PE ratio of 19.33 and a beta of 2.05. The firm has a 50-day simple moving average of $182.21 and a two-hundred day simple moving average of $204.43. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is 16.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IBP shares. Loop Capital cut their price objective on shares of 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. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Truist Financial cut their price objective on shares of 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. Benchmark cut their price objective on shares of 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. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average 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.