Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 365.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 22,800 shares of the construction company's stock after acquiring an additional 17,900 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Installed Building Products worth $3,996,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at $260,000. Barclays PLC boosted its holdings in Installed Building Products by 61.9% in the third quarter. Barclays PLC now owns 97,711 shares of the construction company's stock valued at $24,063,000 after purchasing an additional 37,347 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Installed Building Products during the 3rd quarter worth about $353,000. Franklin Resources Inc. grew its position in Installed Building Products by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company's stock worth $48,368,000 after purchasing an additional 22,367 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Installed Building Products by 14.3% during the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company's stock valued at $528,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Trading Up 5.4 %

IBP opened at $162.57 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company's 50 day simple moving average is $169.84 and its two-hundred day simple moving average is $193.61. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.06 and a beta of 1.84. Installed Building Products, Inc. has a 1-year low of $151.27 and a 1-year high of $281.04.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.91%. The ex-dividend date was Friday, March 14th. Installed Building Products's dividend payout ratio is presently 16.26%.

Analysts Set New Price Targets

IBP has been the subject of a number of analyst reports. DA Davidson decreased their price target on Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, February 28th. Benchmark cut their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a report on Monday, March 3rd. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. Finally, Loop Capital dropped their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $216.09.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.