Oppenheimer Asset Management Inc. acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 986 shares of the construction company’s stock, valued at approximately $243,000.
A number of other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Installed Building Products during the first quarter valued at about $96,248,000. Price T Rowe Associates Inc. MD increased its position in shares of Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares during the last quarter. Millennium Management LLC grew its position in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the period. Leeward Investments LLC MA purchased a new position in Installed Building Products in the third quarter valued at approximately $17,972,000. Finally, Renaissance Technologies LLC raised its stake in Installed Building Products by 2,912.0% in the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after acquiring an additional 72,800 shares during the period. 99.61% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
IBP has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. DA Davidson lowered their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Truist Financial raised their price target 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. Finally, Royal Bank of Canada lowered 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. One 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $252.30.
Installed Building Products Stock Performance
Shares of IBP stock opened at $208.53 on Thursday. Installed Building Products, Inc. has a one year low of $143.97 and a one year high of $281.04. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 23.17 and a beta of 1.95. The company’s 50-day moving average is $230.78 and its 200 day moving average is $223.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.
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 issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.67%. Installed Building Products’s payout ratio is 15.56%.
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.
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