Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its position in Installed Building Products, Inc. (NYSE:IBP) by 51.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,452 shares of the construction company’s stock after acquiring an additional 8,602 shares during the period. Intech Investment Management LLC’s holdings in Installed Building Products were worth $4,460,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Installed Building Products by 121.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after acquiring an additional 8,815 shares during the period. Summit Partners Public Asset Management LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $54,499,000. Natixis Advisors LLC lifted its stake in shares of Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after purchasing an additional 4,451 shares during the period. Citigroup Inc. lifted its stake in shares of Installed Building Products by 54.0% in the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Installed Building Products by 3.9% in the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after purchasing an additional 23,179 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBP. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Benchmark reduced their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. DA Davidson reduced their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Loop Capital reduced their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $219.40.

Installed Building Products Stock Performance

NYSE:IBP opened at $171.81 on Wednesday. The company has a market capitalization of $4.77 billion, a P/E ratio of 19.09 and a beta of 2.05. Installed Building Products, Inc. has a twelve month low of $159.77 and a twelve month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $182.24 and a two-hundred day moving average price of $204.65.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. Installed Building Products’s payout ratio is 16.26%.

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.