Cerity Partners LLC lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 39.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,213 shares of the construction company's stock after selling 4,104 shares during the period. Cerity Partners LLC's holdings in Installed Building Products were worth $1,530,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products in the third quarter valued at about $29,000. GHP Investment Advisors Inc. raised its holdings in Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock worth $30,000 after purchasing an additional 78 shares in the last quarter. CWM LLC raised its holdings in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company's stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock worth $57,000 after purchasing an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Installed Building Products by 41.7% during the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company's stock worth $160,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.
Installed Building Products Trading Down 0.2 %
NYSE IBP traded down $0.44 during mid-day trading on Wednesday, reaching $222.85. 175,853 shares of the stock were exchanged, compared to its average volume of 292,802. 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 stock has a market capitalization of $6.27 billion, a PE ratio of 24.76 and a beta of 1.93. Installed Building Products, Inc. has a 1-year low of $152.06 and a 1-year high of $281.04. The business's fifty day simple moving average is $228.75 and its 200 day simple moving average is $222.90.
Installed Building Products Dividend Announcement
The business also recently declared 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, December 13th. Installed Building Products's dividend payout ratio is currently 15.56%.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. DA Davidson lowered their target price 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. Jefferies Financial Group increased their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and lowered their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $253.70.
Read Our Latest Stock Analysis on Installed Building Products
About Installed Building Products
(
Free Report)
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.
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