State Street Corp Buys 96,780 Shares of Installed Building Products, Inc. (NYSE:IBP)

State Street Corp lifted its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,248,515 shares of the construction company's stock after purchasing an additional 96,780 shares during the period. State Street Corp owned 4.44% of Installed Building Products worth $307,472,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Cetera Advisors LLC purchased a new stake in Installed Building Products in the first quarter worth about $372,000. CWM LLC increased its position in Installed Building Products by 32.1% during the 2nd 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. SG Americas Securities LLC increased its position in Installed Building Products by 80.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company's stock valued at $621,000 after buying an additional 1,348 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Installed Building Products by 14.3% during the second quarter. Sequoia Financial Advisors LLC now owns 1,053 shares of the construction company's stock valued at $217,000 after buying an additional 132 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in Installed Building Products by 2.3% in the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company's stock worth $416,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Price Performance

NYSE:IBP traded up $0.73 during trading hours on Wednesday, reaching $209.60. The stock had a trading volume of 149,337 shares, compared to its average volume of 290,604. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock has a market capitalization of $5.90 billion, a PE ratio of 23.37 and a beta of 1.93. Installed Building Products, Inc. has a 52 week low of $158.50 and a 52 week high of $281.04. The company has a 50 day moving average price of $226.07 and a two-hundred day moving average price of $223.07.

Installed Building Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted 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. DA Davidson cut their target price 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. Jefferies Financial Group upped their price target 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. Royal Bank of Canada cut shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $253.70.

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.