BNP Paribas Financial Markets Sells 1,730 Shares of Installed Building Products, Inc. (NYSE:IBP)

BNP Paribas Financial Markets lessened its position in Installed Building Products, Inc. (NYSE:IBP) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,101 shares of the construction company’s stock after selling 1,730 shares during the period. BNP Paribas Financial Markets owned 0.07% of Installed Building Products worth $5,197,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB grew its position in shares of Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares during the last quarter. Blue Trust Inc. boosted its holdings in Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after acquiring an additional 3,125 shares in the last quarter. Summit Global Investments purchased a new position in Installed Building Products during the 2nd quarter valued at $1,146,000. Creative Planning raised its holdings in 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 in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Installed Building Products in the 2nd quarter worth about $581,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IBP. DA Davidson reduced their price target on shares of 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. Evercore ISI upped their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Jefferies Financial Group raised 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 Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.70.

Installed Building Products Trading Down 0.4 %

Shares of NYSE IBP opened at $223.29 on Wednesday. The company has a market cap of $6.28 billion, a PE ratio of 24.81 and a beta of 1.93. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm’s 50 day moving average price is $229.07 and its 200-day moving average price is $222.90. Installed Building Products, Inc. has a 52-week low of $152.06 and a 52-week high of $281.04.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 0.63%. Installed Building Products’s dividend payout ratio is 15.56%.

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.