Maryland State Retirement & Pension System Sells 60 Shares of Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,808 shares of the construction company’s stock after selling 60 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $1,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IBP. CIBC Asset Management Inc purchased a new position in Installed Building Products during the 3rd quarter worth $203,000. Pathstone Holdings LLC increased its holdings in Installed Building Products by 91.6% during the 3rd quarter. Pathstone Holdings LLC now owns 7,102 shares of the construction company’s stock worth $1,749,000 after purchasing an additional 3,396 shares during the period. Advisors Asset Management Inc. increased its holdings in Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the period. Intech Investment Management LLC increased its holdings in Installed Building Products by 496.2% during the 3rd quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after purchasing an additional 14,024 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Installed Building Products by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after purchasing an additional 21,942 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Down 1.4 %

Shares of IBP stock opened at $172.37 on Friday. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The stock’s fifty day moving average price is $182.19 and its 200 day moving average price is $203.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 19.15 and a beta of 2.05.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IBP shares. DA Davidson cut their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Truist Financial cut their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group cut their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $219.40.

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.