Fortress Financial Group LLC Purchases Shares of 2,354 Installed Building Products, Inc. (NYSE:IBP)

Fortress Financial Group LLC acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,354 shares of the construction company’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Illinois Municipal Retirement Fund increased its holdings in shares of Installed Building Products by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 13,631 shares of the construction company’s stock worth $2,389,000 after buying an additional 486 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Installed Building Products by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 205,283 shares of the construction company’s stock valued at $35,976,000 after purchasing an additional 4,641 shares in the last quarter. Fisher Funds Management LTD bought a new position in Installed Building Products in the 4th quarter valued at $12,309,000. Van Berkom & Associates Inc. boosted its stake in Installed Building Products by 7.5% in the fourth quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company’s stock worth $65,449,000 after purchasing an additional 25,971 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Installed Building Products by 7.2% in the fourth quarter. Handelsbanken Fonder AB now owns 5,965 shares of the construction company’s stock worth $1,045,000 after purchasing an additional 400 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Installed Building Products Trading Down 0.8 %

Shares of NYSE IBP opened at $170.59 on Friday. Installed Building Products, Inc. has a fifty-two week low of $162.20 and a fifty-two week high of $281.04. The firm has a market capitalization of $4.80 billion, a P/E ratio of 18.95 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company’s 50 day simple moving average is $183.46 and its 200 day simple moving average is $209.19.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. DA Davidson dropped their target price 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. JPMorgan Chase & Co. upped their target price 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. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus target price of $240.40.

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.