Sanctuary Advisors LLC Invests $353,000 in Installed Building Products, Inc. (NYSE:IBP)

Sanctuary Advisors LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,433 shares of the construction company’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its stake in Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after purchasing an additional 8,815 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products in the third quarter valued at approximately $54,499,000. Creative Planning lifted its stake in Installed Building Products by 39.6% in the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after purchasing an additional 2,187 shares during the last quarter. Natixis Advisors LLC lifted its stake in Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after purchasing an additional 4,451 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Installed Building Products by 54.0% in the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IBP. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Performance

Installed Building Products stock opened at $174.32 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average of $212.50 and a 200-day moving average of $220.90. The firm has a market cap of $4.91 billion, a P/E ratio of 19.37 and a beta of 1.93. Installed Building Products, Inc. has a 1-year low of $168.08 and a 1-year high of $281.04.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 0.80%. Installed Building Products’s dividend payout ratio (DPR) is presently 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.