Edgestream Partners L.P. Acquires 19,398 Shares of Installed Building Products, Inc. (NYSE:IBP)

Edgestream Partners L.P. grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 167.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,997 shares of the construction company’s stock after purchasing an additional 19,398 shares during the quarter. Edgestream Partners L.P. owned about 0.11% of Installed Building Products worth $7,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Installed Building Products in the third quarter worth approximately $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 worth $30,000 after buying an additional 78 shares during the period. CWM LLC increased its stake in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Installed Building Products during the 3rd quarter valued at $111,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE IBP opened at $228.38 on Friday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 25.38 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company has a fifty day moving average price of $229.82 and a 200-day moving average price of $222.90. Installed Building Products, Inc. has a 1 year low of $148.59 and a 1 year high of $281.04.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. 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 dividend payout ratio is currently 15.56%.

Analyst Upgrades and Downgrades

IBP has been the subject of several research analyst reports. Evercore ISI lifted 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. Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Truist Financial increased their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. DA Davidson reduced their price objective on 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 upped their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Installed Building Products currently has a consensus 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.