2,546 Shares in Installed Building Products, Inc. (NYSE:IBP) Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 2,546 shares of the construction company’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IBP. Swedbank AB increased its stake in shares of Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares during the period. Blue Trust Inc. raised its holdings in shares of Installed Building Products by 456.2% in the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after purchasing an additional 3,125 shares in the last quarter. Summit Global Investments bought a new stake in shares of Installed Building Products in the 2nd quarter valued at about $1,146,000. Creative Planning lifted its position in shares of Installed Building Products by 39.6% in the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock worth $1,899,000 after purchasing an additional 2,187 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Installed Building Products during the second quarter valued at approximately $581,000. 99.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of analyst reports. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Evercore ISI lifted their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $253.70.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $223.29 on Wednesday. The firm has a market capitalization of $6.28 billion, a P/E ratio of 24.81 and a beta of 1.93. Installed Building Products, Inc. has a 52 week low of $152.06 and a 52 week high of $281.04. 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 company has a 50 day moving average price of $229.07 and a 200 day moving average price of $222.90.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.63%. Installed Building Products’s payout ratio is currently 15.56%.

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.