Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Huntington National Bank

Huntington National Bank trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP) by 26.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413 shares of the construction company’s stock after selling 148 shares during the quarter. Huntington National Bank’s holdings in Installed Building Products were worth $72,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new stake in shares of Installed Building Products during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC raised its stake in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after acquiring an additional 272 shares in the last quarter. Quarry LP lifted its position in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the last quarter. Headlands Technologies LLC boosted its stake in Installed Building Products by 819.0% in the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock valued at $127,000 after acquiring an additional 647 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 target price for the company. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Benchmark reduced their price target 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. Loop Capital lowered their price objective on shares of 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, DA Davidson reduced 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $216.09.

Installed Building Products Stock Performance

NYSE IBP opened at $173.19 on Monday. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 19.24 and a beta of 1.84. The business’s 50 day moving average is $177.57 and its two-hundred day moving average is $200.80. Installed Building Products, Inc. has a 12-month low of $157.93 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.

Installed Building Products Increases Dividend

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