Erste Asset Management GmbH Acquires Shares of 75,527 Installed Building Products, Inc. (NYSE:IBP)

Erste Asset Management GmbH bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the third quarter, according to its most recent filing with the SEC. The fund bought 75,527 shares of the construction company’s stock, valued at approximately $18,802,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Installed Building Products during the third quarter worth about $29,000. GHP Investment Advisors Inc. grew its position 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 valued at $30,000 after acquiring an additional 78 shares during the period. CWM LLC increased its stake in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Advisors Asset Management Inc. raised its holdings 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 purchasing an additional 140 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in Installed Building Products in the third quarter valued at approximately $111,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $228.74 on Monday. The company has a 50 day moving average of $229.82 and a 200 day moving average of $222.77. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a market cap of $6.44 billion, a P/E ratio of 25.42 and a beta of 1.95. Installed Building Products, Inc. has a 12 month low of $148.59 and a 12 month high of $281.04.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.61%. Installed Building Products’s payout ratio is currently 15.56%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Evercore ISI upped their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $253.70.

Installed Building Products Company 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.