Intech Investment Management LLC Raises Position in Installed Building Products, Inc. (NYSE:IBP)

Intech Investment Management LLC lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 496.2% during the third quarter, Holdings Channel reports. The fund owned 16,850 shares of the construction company’s stock after acquiring an additional 14,024 shares during the period. Intech Investment Management LLC’s holdings in Installed Building Products were worth $4,150,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its position in Installed Building Products by 152.2% in 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 in the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Installed Building Products by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after buying an additional 1,000 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Installed Building Products by 149.3% in the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock valued at $19,966,000 after acquiring an additional 48,559 shares in the last quarter. Premier Fund Managers Ltd lifted its stake in Installed Building Products by 41.6% in the third quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock worth $20,051,000 after acquiring an additional 23,532 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Installed Building Products during the 3rd quarter worth approximately $2,418,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP stock opened at $216.92 on Friday. 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 company has a market capitalization of $6.10 billion, a P/E ratio of 24.10 and a beta of 1.95. The business has a 50 day simple moving average of $230.84 and a 200-day simple moving average of $223.31. Installed Building Products, Inc. has a twelve month low of $144.15 and a twelve month high of $281.04.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial lifted their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products presently has an average rating of “Hold” and an average target price 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.