Glenmede Trust Co. NA Makes New $627,000 Investment in Installed Building Products, Inc. (NYSE:IBP)

Glenmede Trust Co. NA bought a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,546 shares of the construction company's stock, valued at approximately $627,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products during the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. raised its holdings in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after buying an additional 78 shares during the period. CWM LLC lifted its holdings in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company's stock worth $52,000 after buying an additional 62 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock valued at $57,000 after purchasing an additional 140 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of Installed Building Products in the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBP. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. 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 research note on Wednesday, October 9th. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, DA Davidson cut their target price on Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. One research 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. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and an average target price of $253.70.

Installed Building Products Trading Down 0.6 %

Installed Building Products stock traded down $1.24 during midday trading on Wednesday, reaching $222.05. The stock had a trading volume of 71,008 shares, compared to its average volume of 292,333. The firm's fifty day simple moving average is $229.07 and its two-hundred day simple moving average is $222.90. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a twelve month low of $152.06 and a twelve month high of $281.04. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 24.81 and a beta of 1.93.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.63%. Installed Building Products's payout ratio is presently 15.56%.

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.