Citigroup Inc. lifted its holdings in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 54.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,235 shares of the construction company’s stock after acquiring an additional 16,569 shares during the period. Citigroup Inc. owned approximately 0.17% of Installed Building Products worth $11,633,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Installed Building Products by 3.1% during the first quarter. Janus Henderson Group PLC now owns 20,228 shares of the construction company’s stock worth $5,232,000 after purchasing an additional 606 shares during the period. Cetera Advisors LLC bought a new position in Installed Building Products during the 1st quarter worth $372,000. CWM LLC raised its holdings in 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. Guinness Atkinson Asset Management Inc lifted its position in shares of Installed Building Products by 3.2% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 4,235 shares of the construction company’s stock valued at $871,000 after acquiring an additional 132 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Installed Building Products by 80.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company’s stock worth $621,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on IBP shares. DA Davidson cut 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 report on Friday, November 8th. JPMorgan Chase & Co. increased their price target 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 downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a report on Friday, November 8th. Finally, Stephens reissued an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $253.70.
Installed Building Products Stock Up 0.1 %
Shares of IBP opened at $225.53 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 52 week low of $145.75 and a 52 week high of $281.04. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.06 and a beta of 1.95. The stock has a fifty day moving average of $230.03 and a 200-day moving average of $222.90.
Installed Building Products Announces Dividend
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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.
About Installed Building Products
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.
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