Vestcor Inc Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

Vestcor Inc reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,969 shares of the construction company’s stock after selling 218 shares during the period. Vestcor Inc’s holdings in Installed Building Products were worth $731,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Installed Building Products during the third quarter worth approximately $29,000. GHP Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the period. CWM LLC boosted its holdings in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the last quarter. Finally, Quarry LP grew its position in Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Trading Down 1.3 %

Shares of IBP opened at $205.77 on Friday. 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, Inc. has a one year low of $158.50 and a one year high of $281.04. The stock has a 50-day moving average price of $224.62 and a 200 day moving average price of $222.85. The company has a market capitalization of $5.79 billion, a P/E ratio of 22.86 and a beta of 1.93.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI increased their price target on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target 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.