Premier Fund Managers Ltd Acquires 23,532 Shares of Installed Building Products, Inc. (NYSE:IBP)

Premier Fund Managers Ltd raised its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 41.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,108 shares of the construction company's stock after buying an additional 23,532 shares during the period. Premier Fund Managers Ltd owned about 0.28% of Installed Building Products worth $20,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Installed Building Products during the 1st quarter worth $29,000. V Square Quantitative Management LLC purchased a new position in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. raised its holdings in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock worth $30,000 after buying an additional 78 shares during the period. CWM LLC lifted its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company's stock valued at $52,000 after buying an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Installed Building Products by 41.7% during the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company's stock valued at $160,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Up 0.6 %

Shares of NYSE IBP traded up $1.14 during trading hours on Wednesday, hitting $208.05. The stock had a trading volume of 38,383 shares, compared to its average volume of 293,530. The firm's 50-day moving average price is $230.78 and its two-hundred day moving average price is $223.50. Installed Building Products, Inc. has a 52 week low of $143.97 and a 52 week high of $281.04. The company has a market capitalization of $5.85 billion, a P/E ratio of 22.95 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.67%. Installed Building Products's dividend payout ratio (DPR) is 15.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBP shares. Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and reduced their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Evercore ISI upped their price target on Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an "equal weight" rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Installed Building Products has an average rating of "Hold" and an average 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.