Geode Capital Management LLC Has $153.45 Million Stake in Installed Building Products, Inc. (NYSE:IBP)

Geode Capital Management LLC lifted its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 623,003 shares of the construction company's stock after purchasing an additional 23,179 shares during the period. Geode Capital Management LLC owned 2.21% of Installed Building Products worth $153,452,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in IBP. CWM LLC grew its holdings in shares of Installed Building Products by 32.1% during the 2nd 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. SG Americas Securities LLC boosted its stake in Installed Building Products by 80.6% during the second quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company's stock worth $621,000 after buying an additional 1,348 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Installed Building Products by 14.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company's stock valued at $333,000 after buying an additional 209 shares during the period. Summit Global Investments acquired a new position in shares of Installed Building Products in the 2nd quarter valued at $1,146,000. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Installed Building Products by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the construction company's stock worth $2,427,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Seaport Res Ptn cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. DA Davidson dropped their price objective on Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI cut Installed Building Products from an "outperform" rating to an "underperform" rating and cut their price objective for the company from $238.00 to $206.00 in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $247.10.

Installed Building Products Price Performance

NYSE IBP traded down $3.22 on Tuesday, hitting $191.98. 263,053 shares of the company were exchanged, compared to its average volume of 291,213. Installed Building Products, Inc. has a 1-year low of $168.08 and a 1-year high of $281.04. The firm has a 50 day moving average of $222.97 and a two-hundred day moving average of $222.87. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.40 billion, a P/E ratio of 21.54 and a beta of 1.93.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.73%. Installed Building Products's payout ratio is 15.56%.

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.