Fisher Funds Management LTD Invests $12.31 Million in Installed Building Products, Inc. (NYSE:IBP)

Fisher Funds Management LTD purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 70,131 shares of the construction company’s stock, valued at approximately $12,309,000.

A number of other large investors also recently modified their holdings of the business. Van Berkom & Associates Inc. lifted its holdings in shares of Installed Building Products by 7.5% during the fourth quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company’s stock worth $65,449,000 after buying an additional 25,971 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Installed Building Products by 7.2% during the fourth quarter. Handelsbanken Fonder AB now owns 5,965 shares of the construction company’s stock valued at $1,045,000 after purchasing an additional 400 shares during the period. Jacobson & Schmitt Advisors LLC increased its position in shares of Installed Building Products by 33.7% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 50,528 shares of the construction company’s stock valued at $8,855,000 after purchasing an additional 12,731 shares during the period. Sanctuary Advisors LLC increased its position in shares of Installed Building Products by 8.9% during the fourth quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock valued at $274,000 after purchasing an additional 128 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Installed Building Products by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock valued at $22,234,000 after purchasing an additional 4,467 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of IBP stock opened at $165.23 on Friday. The stock’s fifty day moving average is $184.69 and its 200-day moving average is $210.08. 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 $4.65 billion, a PE ratio of 18.36 and a beta of 1.99. Installed Building Products, Inc. has a 52 week low of $163.14 and a 52 week high of $281.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IBP shares. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday. DA Davidson lowered their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $240.40.

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.