State Street Corp Grows Holdings in Installed Building Products, Inc. (NYSE:IBP)

State Street Corp lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,248,515 shares of the construction company’s stock after acquiring an additional 96,780 shares during the quarter. State Street Corp owned 4.44% of Installed Building Products worth $307,472,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its stake in shares of Installed Building Products by 13.0% during the third quarter. Stifel Financial Corp now owns 11,006 shares of the construction company’s stock worth $2,710,000 after purchasing an additional 1,269 shares in the last quarter. Quarry LP boosted its stake in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Installed Building Products by 1.0% during the third quarter. Royal London Asset Management Ltd. now owns 98,167 shares of the construction company’s stock worth $24,176,000 after buying an additional 978 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in shares of Installed Building Products in the third quarter valued at about $301,000. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Installed Building Products by 81.6% in the third quarter. Integrated Wealth Concepts LLC now owns 3,395 shares of the construction company’s stock worth $836,000 after buying an additional 1,525 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Stock Down 4.2 %

Shares of IBP opened at $208.87 on Wednesday. The company’s 50-day moving average price is $226.07 and its 200 day moving average price is $223.07. Installed Building Products, Inc. has a 12-month low of $158.50 and a 12-month high of $281.04. 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 firm has a market cap of $5.88 billion, a P/E ratio of 23.21 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Analyst Upgrades and Downgrades

IBP has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. 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. DA Davidson lowered their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.