Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 623,003 shares of the construction company’s stock after buying an additional 23,179 shares during the quarter. Geode Capital Management LLC owned approximately 2.21% of Installed Building Products worth $153,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the period. SG Americas Securities LLC boosted its position in Installed Building Products by 80.6% during the second quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company’s stock worth $621,000 after purchasing an additional 1,348 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Installed Building Products by 14.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company’s stock valued at $333,000 after buying an additional 209 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Installed Building Products in the second quarter valued at approximately $1,146,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Installed Building Products by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the construction company’s stock worth $2,427,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the subject of several recent analyst reports. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $238.00 to $206.00 in a report on Monday. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. DA Davidson cut their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $195.20 on Tuesday. The business’s 50 day moving average price is $223.81 and its 200 day moving average price is $222.97. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 21.69 and a beta of 1.93. 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 one year low of $168.08 and a one year high of $281.04.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.72%. Installed Building Products’s dividend payout ratio is presently 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.