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

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

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after buying an additional 18,890 shares during the period. Swedbank AB grew its holdings 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 buying an additional 43,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Installed Building Products by 6.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after buying an additional 20,155 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after buying an additional 4,943 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Installed Building Products by 1,328.2% during 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 buying an additional 183,696 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IBP shares. The Goldman Sachs Group increased their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Stephens reissued an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six 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 target price of $252.30.

Installed Building Products Stock Performance

Shares of IBP opened at $206.95 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12 month low of $141.14 and a 12 month high of $281.04. The firm has a fifty day simple moving average of $230.78 and a 200 day simple moving average of $223.76. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.99 and a beta of 1.95.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

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.