PNC Financial Services Group Inc. Sells 232 Shares of Installed Building Products, Inc. (NYSE:IBP)

PNC Financial Services Group Inc. decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,599 shares of the construction company’s stock after selling 232 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Installed Building Products were worth $475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IBP. Channing Capital Management LLC bought a new position in shares of Installed Building Products during the 4th quarter worth $58,696,000. Norges Bank bought a new position in shares of Installed Building Products during the 4th quarter worth $37,583,000. Public Employees Retirement Association of Colorado grew its stake in shares of Installed Building Products by 3,919.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after acquiring an additional 139,172 shares during the period. Clearbridge Investments LLC bought a new position in shares of Installed Building Products during the 4th quarter worth $15,317,000. Finally, New York State Common Retirement Fund grew its stake in shares of Installed Building Products by 732.3% during the 4th quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock worth $15,427,000 after acquiring an additional 74,247 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $202.16 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $5.75 billion, a PE ratio of 22.87 and a beta of 1.95. The business’s 50-day moving average price is $219.57 and its 200-day moving average price is $215.36. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $263.76.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.08 by $0.29. The firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. Sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.69%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Insider Activity

In other news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the sale, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IBP shares. Benchmark increased their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Evercore ISI increased their price objective on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. DA Davidson started coverage on Installed Building Products in a report on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective on the stock. Finally, Loop Capital increased their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.30.

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.