Van ECK Associates Corp Increases Holdings in Installed Building Products, Inc. (NYSE:IBP)

Van ECK Associates Corp raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,447 shares of the construction company's stock after buying an additional 4,711 shares during the period. Van ECK Associates Corp owned about 0.09% of Installed Building Products worth $4,635,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products during the 3rd quarter valued at $29,000. GHP Investment Advisors Inc. grew its position 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 acquiring an additional 78 shares during the period. Advisors Asset Management Inc. grew its position in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock valued at $57,000 after acquiring an additional 140 shares during the period. Quarry LP grew its position in shares of Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company's stock valued at $78,000 after acquiring an additional 286 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in shares of Installed Building Products during the 3rd quarter valued at $111,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IBP shares. DA Davidson cut their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Seaport Res Ptn downgraded shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. Evercore ISI downgraded shares of Installed Building Products from an "outperform" rating to an "underperform" rating and dropped their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $240.40.

Installed Building Products Price Performance

Shares of IBP traded down $6.36 during midday trading on Friday, hitting $165.23. 375,519 shares of the company traded hands, compared to its average volume of 318,173. The firm has a 50 day moving average of $185.35 and a 200-day moving average of $210.57. Installed Building Products, Inc. has a 52 week low of $163.14 and a 52 week high of $281.04. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 18.36 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

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.