Erste Asset Management GmbH Buys Shares of 75,527 Installed Building Products, Inc. (NYSE:IBP)

Erste Asset Management GmbH purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 75,527 shares of the construction company’s stock, valued at approximately $18,802,000. Erste Asset Management GmbH owned about 0.27% of Installed Building Products as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Installed Building Products in the third quarter valued at approximately $29,000. GHP Investment Advisors Inc. increased its holdings 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 purchasing an additional 78 shares during the period. CWM LLC increased its stake in shares of 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 period. Advisors Asset Management Inc. increased its position in 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. Finally, Centaurus Financial Inc. acquired a new stake in Installed Building Products during the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Up 1.4 %

NYSE IBP opened at $228.74 on Monday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $6.44 billion, a P/E ratio of 25.42 and a beta of 1.95. The business has a fifty day simple moving average of $229.82 and a 200 day simple moving average of $222.77. Installed Building Products, Inc. has a 12 month low of $148.59 and a 12 month high of $281.04.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IBP. Evercore ISI boosted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Stephens reissued an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $253.70.

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.