Illinois Municipal Retirement Fund Has $2.39 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Illinois Municipal Retirement Fund boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,631 shares of the construction company’s stock after purchasing an additional 486 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Installed Building Products were worth $2,389,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Installed Building Products by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 205,283 shares of the construction company’s stock valued at $35,976,000 after acquiring an additional 4,641 shares during the period. Fisher Funds Management LTD purchased a new position in Installed Building Products during the 4th quarter worth approximately $12,309,000. Van Berkom & Associates Inc. raised its stake in Installed Building Products by 7.5% during the 4th quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company’s stock valued at $65,449,000 after purchasing an additional 25,971 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Installed Building Products by 7.2% in the fourth quarter. Handelsbanken Fonder AB now owns 5,965 shares of the construction company’s stock valued at $1,045,000 after purchasing an additional 400 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC lifted its holdings in shares of Installed Building Products by 33.7% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 50,528 shares of the construction company’s stock valued at $8,855,000 after purchasing an additional 12,731 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

NYSE IBP opened at $170.59 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $4.80 billion, a PE ratio of 18.95 and a beta of 1.99. Installed Building Products, Inc. has a 12-month low of $162.20 and a 12-month high of $281.04. The company has a 50 day moving average price of $183.46 and a two-hundred day moving average price of $209.19.

Wall Street Analysts Forecast Growth

IBP has been the topic of several recent analyst reports. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $238.00 to $206.00 in a report on Monday, December 16th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. The Goldman Sachs Group lowered their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $240.40.

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.