Geode Capital Management LLC Grows Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Geode Capital Management LLC increased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 623,003 shares of the construction company’s stock after purchasing an additional 23,179 shares during the quarter. Geode Capital Management LLC’s holdings in Installed Building Products were worth $153,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBP. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $29,000. GHP Investment Advisors Inc. raised its position in Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Advisors Asset Management Inc. raised its position in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the period. CWM LLC boosted its position in shares of Installed Building Products by 32.1% during 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 period. Finally, Quarry LP boosted its position in shares of Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $238.00 to $206.00 in a research note on Monday. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. DA Davidson reduced their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $247.10.

Installed Building Products Price Performance

Shares of IBP opened at $195.20 on Tuesday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 21.69 and a beta of 1.93. The firm’s fifty day simple moving average is $223.81 and its 200-day simple moving average is $222.97. Installed Building Products, Inc. has a twelve month low of $168.08 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.

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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 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.