WCM Investment Management LLC purchased a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,051 shares of the construction company's stock, valued at approximately $15,287,000. WCM Investment Management LLC owned approximately 0.22% of Installed Building Products as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Vanguard Group Inc. raised its stake in shares of Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company's stock worth $683,421,000 after acquiring an additional 18,890 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Installed Building Products in the 1st quarter worth about $564,000. Swedbank AB lifted its stake in shares of Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company's stock valued at $85,357,000 after purchasing an additional 43,000 shares during the period. Blue Trust Inc. grew its holdings in Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company's stock worth $784,000 after purchasing an additional 3,125 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock worth $51,107,000 after purchasing an additional 183,696 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. StockNews.com downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and reduced their price target for the stock from $203.00 to $197.00 in a research note on Friday. Truist Financial increased their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price target on Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $252.30.
View Our Latest Stock Report on Installed Building Products
Installed Building Products Price Performance
IBP traded down $3.09 during trading on Tuesday, reaching $207.65. 427,872 shares of the company traded hands, compared to its average volume of 294,613. The company has a market cap of $5.86 billion, a P/E ratio of 23.42 and a beta of 1.95. The firm has a fifty day simple moving average of $231.09 and a 200 day simple moving average of $225.16. Installed Building Products, Inc. has a 12-month low of $124.01 and a 12-month high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.59 and a current ratio of 2.99.
Installed Building Products Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's payout ratio is 15.56%.
About Installed Building Products
(
Free Report)
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.
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