Fmr LLC Purchases 367,628 Shares of Installed Building Products, Inc. (NYSE:IBP)

Fmr LLC lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 61.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 965,551 shares of the construction company’s stock after purchasing an additional 367,628 shares during the period. Fmr LLC owned about 3.43% of Installed Building Products worth $237,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB increased its position in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after acquiring an additional 43,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Installed Building Products by 6.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after purchasing an additional 20,155 shares during the period. Charles Schwab Investment Management Inc. raised its position in Installed Building Products by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after purchasing an additional 21,942 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after buying an additional 4,943 shares during the period. Finally, Millennium Management LLC grew its position in shares of Installed Building Products by 395.3% in the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Up 1.4 %

IBP opened at $228.74 on Monday. The company has a fifty day moving average price of $229.82 and a two-hundred day moving average price of $222.77. Installed Building Products, Inc. has a 1-year low of $148.59 and a 1-year high of $281.04. The company has a market cap of $6.44 billion, a P/E ratio of 25.42 and a beta of 1.95. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is currently 15.56%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. DA Davidson cut their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $253.70.

Installed Building Products 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.