Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 121.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,094 shares of the construction company’s stock after buying an additional 8,815 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Installed Building Products worth $3,963,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IBP. CWM LLC grew its position 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 buying an additional 62 shares during the last quarter. SG Americas Securities LLC grew its position in Installed Building Products by 80.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company’s stock worth $621,000 after purchasing an additional 1,348 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Installed Building Products by 14.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,053 shares of the construction company’s stock worth $217,000 after purchasing an additional 132 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Installed Building Products by 14.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company’s stock worth $333,000 after purchasing an additional 209 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Installed Building Products by 456.2% during the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after purchasing an additional 3,125 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 3.6 %

IBP stock opened at $198.35 on Friday. 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 1 year low of $168.08 and a 1 year high of $281.04. The company has a fifty day simple moving average of $223.81 and a 200 day simple moving average of $222.75. The firm has a market cap of $5.58 billion, a PE ratio of 22.04 and a beta of 1.93.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is presently 15.56%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IBP shares. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson lowered their price objective on shares of 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. Evercore ISI boosted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $253.70.

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.