Creative Planning Buys 2,187 Shares of Installed Building Products, Inc. (NYSE:IBP)

Creative Planning lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,712 shares of the construction company's stock after purchasing an additional 2,187 shares during the quarter. Creative Planning's holdings in Installed Building Products were worth $1,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swedbank AB purchased a new position in Installed Building Products during the first quarter worth about $96,248,000. Price T Rowe Associates Inc. MD grew 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 buying an additional 183,696 shares in the last quarter. Millennium Management LLC grew its position in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company's stock worth $29,446,000 after buying an additional 114,259 shares in the last quarter. Renaissance Technologies LLC grew its position in Installed Building Products by 2,912.0% during the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company's stock worth $15,488,000 after buying an additional 72,800 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Installed Building Products in the 1st quarter worth about $17,806,000. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBP. Stephens reiterated an "equal weight" rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a report on Friday, August 2nd. Truist Financial upped their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $254.40.

Installed Building Products Trading Down 8.3 %

IBP traded down $19.38 during midday trading on Tuesday, reaching $215.33. 748,226 shares of the company's stock traded hands, compared to its average volume of 289,341. The firm has a fifty day moving average of $231.48 and a two-hundred day moving average of $225.84. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.61 and a beta of 1.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. Installed Building Products, Inc. has a 52 week low of $108.57 and a 52 week high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The firm had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. On average, equities analysts anticipate that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, September 13th. Installed Building Products's dividend payout ratio is currently 15.84%.

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.