Installed Building Products, Inc. $IBP Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 16.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,850 shares of the construction company’s stock after buying an additional 18,487 shares during the period. Envestnet Asset Management Inc. owned 0.48% of Installed Building Products worth $32,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new position in Installed Building Products in the 3rd quarter worth about $481,000. Bayforest Capital Ltd increased its position in shares of Installed Building Products by 180.0% in the third quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after acquiring an additional 1,834 shares in the last quarter. Blalock Williams LLC acquired a new stake in shares of Installed Building Products during the third quarter valued at approximately $792,000. Timucuan Asset Management Inc. FL raised its holdings in shares of Installed Building Products by 73.2% during the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after acquiring an additional 366,250 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Installed Building Products by 19.3% in the 2nd quarter. Franklin Resources Inc. now owns 238,077 shares of the construction company’s stock valued at $42,930,000 after acquiring an additional 38,585 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Stock Performance

Shares of IBP opened at $334.94 on Thursday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 7.87 and a beta of 1.92. The company’s fifty day moving average is $286.91 and its 200-day moving average is $265.76. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $341.60.

Insiders Place Their Bets

In related news, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director directly owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore set a $265.00 target price on shares of Installed Building Products in a research note on Thursday, November 6th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research report on Tuesday, January 13th. Royal Bank Of Canada raised their price objective on Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group lifted their target price on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. Finally, Benchmark lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $239.45.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.