Pier Capital LLC Acquires 1,090 Shares of Installed Building Products, Inc. (NYSE:IBP)

Pier Capital LLC increased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 37,225 shares of the construction company’s stock after purchasing an additional 1,090 shares during the period. Pier Capital LLC’s holdings in Installed Building Products were worth $6,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of IBP. Curio Wealth LLC purchased a new stake in shares of Installed Building Products during the fourth quarter worth $30,000. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 272 shares in the last quarter. Quarry LP boosted its stake in Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares during the period. Finally, Centaurus Financial Inc. bought a new position in Installed Building Products in the 3rd quarter worth about $111,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBP. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial decreased their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Benchmark lowered their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group lowered their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $179.60 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The stock has a market cap of $4.99 billion, a PE ratio of 19.96 and a beta of 2.05. The company’s fifty day moving average is $182.29 and its 200 day moving average is $203.63. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week high of $281.04.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.82%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s 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.