Installed Building Products, Inc. (NYSE:IBP) Stock Position Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12,592.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,823 shares of the construction company's stock after purchasing an additional 4,785 shares during the period. Meeder Asset Management Inc.'s holdings in Installed Building Products were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company's stock worth $683,421,000 after buying an additional 18,890 shares in the last quarter. Swedbank AB boosted its position in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company's stock valued at $85,357,000 after acquiring an additional 43,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Installed Building Products by 6.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company's stock valued at $81,063,000 after purchasing an additional 20,155 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company's stock valued at $46,572,000 after purchasing an additional 4,943 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock worth $51,107,000 after purchasing an additional 183,696 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

IBP stock traded up $1.62 during trading on Wednesday, hitting $208.53. The stock had a trading volume of 213,871 shares, compared to its average volume of 294,310. Installed Building Products, Inc. has a 1-year low of $143.97 and a 1-year high of $281.04. The company's 50 day moving average price is $230.78 and its two-hundred day moving average price is $223.50. 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 cap of $5.87 billion, a price-to-earnings ratio of 23.17 and a beta of 1.95.

Installed Building Products Announces Dividend

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 0.67%. The ex-dividend date is Friday, December 13th. Installed Building Products's dividend payout ratio is currently 15.56%.

Wall Street Analyst Weigh In

IBP has been the subject of a number of recent analyst reports. Stephens reissued an "equal weight" rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada downgraded Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products has an average rating of "Hold" and a consensus price target of $252.30.

Installed Building Products 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.