Summit Partners Public Asset Management LLC Invests $54.50 Million in Installed Building Products, Inc. (NYSE:IBP)

Summit Partners Public Asset Management LLC purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 221,298 shares of the construction company’s stock, valued at approximately $54,499,000. Installed Building Products makes up 1.7% of Summit Partners Public Asset Management LLC’s holdings, making the stock its 13th biggest holding. Summit Partners Public Asset Management LLC owned about 0.79% of Installed Building Products as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Installed Building Products during the third quarter worth $29,000. GHP Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares in the last quarter. CWM LLC raised its stake in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in Installed Building Products during the third quarter worth approximately $111,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target 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. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday. Evercore ISI lifted their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Stephens restated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and an average target price of $253.70.

Installed Building Products Trading Up 0.1 %

Shares of IBP stock opened at $225.53 on Friday. 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 firm has a fifty day moving average of $230.03 and a 200-day moving average of $222.90. Installed Building Products, Inc. has a 52-week low of $145.75 and a 52-week high of $281.04. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 25.06 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.62%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is 15.56%.

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.