Covestor Ltd Cuts Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Covestor Ltd lessened its stake in Installed Building Products, Inc. (NYSE:IBP) by 28.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 279 shares of the construction company’s stock after selling 109 shares during the quarter. Covestor Ltd’s holdings in Installed Building Products were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Diversified Trust Co boosted its stake in Installed Building Products by 2.3% during the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after purchasing an additional 46 shares during the last quarter. CWM LLC lifted its position in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Installed Building Products by 2.5% in the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after buying an additional 63 shares during the last quarter. Xponance Inc. lifted its position in Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after buying an additional 76 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IBP shares. DA Davidson cut their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Truist Financial increased their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Trading Up 0.1 %

NYSE:IBP opened at $208.00 on Friday. The stock has a fifty day moving average price of $230.81 and a two-hundred day moving average price of $224.65. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 23.12 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 1 year low of $137.01 and a 1 year high of $281.04.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

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.