Holocene Advisors LP Takes $3.76 Million Position in Installed Building Products, Inc. (NYSE:IBP)

Holocene Advisors LP purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,273 shares of the construction company's stock, valued at approximately $3,761,000. Holocene Advisors LP owned 0.05% of Installed Building Products at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company's stock valued at $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products in the 3rd quarter valued at about $54,499,000. Millennium Management LLC lifted its holdings in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company's stock valued at $29,446,000 after purchasing an additional 114,259 shares during the last quarter. Erste Asset Management GmbH bought a new position in Installed Building Products during the third quarter worth about $18,802,000. Finally, Thrivent Financial for Lutherans boosted its position in Installed Building Products by 379.5% during the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company's stock worth $23,012,000 after purchasing an additional 73,952 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Price Performance

Shares of NYSE IBP traded up $0.93 during trading hours on Friday, reaching $214.37. 173,199 shares of the stock traded hands, compared to its average volume of 291,807. The company has a market capitalization of $6.03 billion, a P/E ratio of 23.94 and a beta of 1.93. The company's 50-day simple moving average is $228.12 and its two-hundred day simple moving average is $222.83. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 52-week low of $158.50 and a 52-week high of $281.04.

Installed Building Products Announces Dividend

The firm 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 $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.65%. Installed Building Products's dividend payout ratio (DPR) is 15.56%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IBP shares. StockNews.com upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Royal Bank of Canada cut Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, Evercore ISI raised their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $253.70.

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.