Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 496.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,850 shares of the construction company’s stock after acquiring an additional 14,024 shares during the quarter. Intech Investment Management LLC owned 0.06% of Installed Building Products worth $4,150,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after purchasing an additional 18,890 shares during the period. Swedbank AB increased its stake in Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after acquiring an additional 3,125 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after acquiring an additional 183,696 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in shares of Installed Building Products during the second quarter worth approximately $1,146,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Stock Up 2.7 %

NYSE:IBP opened at $216.92 on Friday. Installed Building Products, Inc. has a 52 week low of $144.15 and a 52 week high of $281.04. The stock’s fifty day moving average is $230.84 and its two-hundred day moving average is $223.31. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 24.10 and a beta of 1.95. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBP. Truist Financial upped their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday. Stephens reaffirmed an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. DA Davidson dropped their price target on shares of 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, Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $253.70.

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.