Ascent Group LLC Purchases 1,870 Shares of Installed Building Products, Inc. (NYSE:IBP)

Ascent Group LLC raised its position in Installed Building Products, Inc. (NYSE:IBP) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,686 shares of the construction company’s stock after acquiring an additional 1,870 shares during the period. Ascent Group LLC owned approximately 0.07% of Installed Building Products worth $4,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Trust Co boosted its position in shares of Installed Building Products by 2.3% in the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after purchasing an additional 46 shares in the last quarter. CWM LLC boosted its holdings in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Installed Building Products by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after acquiring an additional 63 shares in the last quarter. Xponance Inc. raised its position in shares of Installed Building Products by 5.3% in the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

IBP opened at $228.74 on Monday. The stock has a market cap of $6.44 billion, a P/E ratio of 25.42 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a fifty day moving average price of $229.82 and a 200 day moving average price of $222.77. Installed Building Products, Inc. has a 1 year low of $148.59 and a 1 year high of $281.04.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a report on Friday, November 8th. 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 stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $253.70.

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.