Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Installed Building Products, Inc. (NYSE:IBP)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,772 shares of the construction company’s stock after buying an additional 805 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Installed Building Products were worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversified Trust Co raised its position in shares of Installed Building Products by 2.3% during the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock valued at $416,000 after buying an additional 46 shares during the last quarter. CWM LLC raised its position in shares of Installed Building Products by 32.1% during 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 last quarter. Arkadios Wealth Advisors raised its position in shares of Installed Building Products by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after buying an additional 63 shares during the last quarter. Xponance Inc. raised its position in shares of Installed Building Products by 5.3% during the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after buying an additional 76 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.4 %

NYSE IBP opened at $223.29 on Wednesday. The company’s 50-day moving average price is $229.07 and its 200-day moving average price is $222.90. 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 stock has a market cap of $6.28 billion, a PE ratio of 24.81 and a beta of 1.93. Installed Building Products, Inc. has a 12 month low of $152.06 and a 12 month high of $281.04.

Installed Building Products Dividend Announcement

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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is presently 15.56%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $253.70.

About Installed Building Products

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.