Curi RMB Capital LLC Takes $2.38 Million Position in Installed Building Products, Inc. (NYSE:IBP)

Curi RMB Capital LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 9,658 shares of the construction company’s stock, valued at approximately $2,378,000.

Several other hedge funds also recently added to or reduced their stakes in IBP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products during the first quarter worth about $29,000. V Square Quantitative Management LLC purchased a new stake in Installed Building Products during the 3rd quarter worth approximately $29,000. GHP Investment Advisors Inc. increased its stake in 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 purchasing an additional 78 shares in the last quarter. CWM LLC raised its holdings in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after buying an additional 62 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Installed Building Products by 41.7% during the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after buying an additional 191 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered 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. Truist Financial lifted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. DA Davidson decreased 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 research note on Friday, November 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Stock Down 3.9 %

IBP stock opened at $199.88 on Friday. The firm’s fifty day moving average is $230.77 and its 200 day moving average is $224.23. The firm has a market cap of $5.63 billion, a PE ratio of 22.21 and a beta of 1.95. Installed Building Products, Inc. has a one year low of $138.37 and a one year high of $281.04. 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. Installed Building Products’s dividend payout ratio is presently 15.56%.

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.