Bamco Inc. NY Reduces Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Bamco Inc. NY lessened its stake in Installed Building Products, Inc. (NYSE:IBP) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 492,286 shares of the construction company’s stock after selling 168,757 shares during the period. Bamco Inc. NY owned approximately 1.75% of Installed Building Products worth $121,235,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in shares of Installed Building Products in the third quarter worth $427,000. Erste Asset Management GmbH purchased a new position in Installed Building Products in the third quarter worth about $18,802,000. Edgestream Partners L.P. boosted its position in Installed Building Products by 167.2% in the third quarter. Edgestream Partners L.P. now owns 30,997 shares of the construction company’s stock worth $7,634,000 after purchasing an additional 19,398 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Installed Building Products by 11.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,886 shares of the construction company’s stock valued at $1,450,000 after purchasing an additional 582 shares during the period. Finally, Walleye Capital LLC increased its position in shares of Installed Building Products by 161.7% during the 3rd quarter. Walleye Capital LLC now owns 1,708 shares of the construction company’s stock valued at $421,000 after purchasing an additional 4,478 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $228.74 on Monday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 25.42 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. The stock’s 50-day simple moving average is $229.82 and its 200-day simple moving average is $222.77. Installed Building Products, Inc. has a 52 week low of $148.59 and a 52 week high of $281.04.

Installed Building Products Dividend Announcement

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

Wall Street Analyst Weigh In

IBP has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted 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 note on Friday, November 22nd. Evercore ISI upped their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. DA Davidson lowered their target price on 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. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and an average target price 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.