Cibc World Markets Corp Makes New $393,000 Investment in Installed Building Products, Inc. (NYSE:IBP)

Cibc World Markets Corp bought a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,242 shares of the construction company's stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBP. FMR LLC grew its stake in shares of Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company's stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC acquired a new stake in Installed Building Products during the third quarter valued at $54,499,000. Wellington Management Group LLP acquired a new stake in Installed Building Products during the third quarter valued at $34,635,000. Raymond James Financial Inc. acquired a new position in shares of Installed Building Products in the fourth quarter worth about $23,776,000. Finally, State Street Corp raised its position in shares of Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock worth $307,472,000 after acquiring an additional 96,780 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of Installed Building Products stock traded down $3.91 during trading hours on Thursday, reaching $172.52. 334,946 shares of the company's stock were exchanged, compared to its average volume of 312,764. The business has a fifty day moving average of $181.74 and a two-hundred day moving average of $203.25. The company has a market capitalization of $4.79 billion, a P/E ratio of 19.17 and a beta of 2.05. 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 1 year low of $159.77 and a 1 year high of $281.04.

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Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Installed Building Products's dividend payout ratio is presently 16.26%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their price objective on Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Seaport Res Ptn downgraded Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. StockNews.com cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, DA Davidson reduced their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $219.40.

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.