JPMorgan Chase & Co. Has $17.81 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

JPMorgan Chase & Co. cut its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,317 shares of the construction company’s stock after selling 1,584 shares during the period. JPMorgan Chase & Co. owned approximately 0.26% of Installed Building Products worth $17,810,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Xponance Inc. raised its position in shares of Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares during the period. GHP Investment Advisors Inc. raised its holdings in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the period. NBC Securities Inc. lifted its position in Installed Building Products by 6.4% during the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after acquiring an additional 108 shares during the last quarter. Arizona State Retirement System lifted its position in Installed Building Products by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 6,750 shares of the construction company’s stock worth $1,388,000 after acquiring an additional 114 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Installed Building Products during the third quarter valued at about $29,000. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

IBP has been the topic of a number of recent analyst reports. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Two analysts have 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $247.10.

Installed Building Products Trading Up 1.2 %

Shares of IBP stock opened at $175.91 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. The firm has a fifty day moving average of $202.23 and a 200-day moving average of $218.72. Installed Building Products, Inc. has a 52-week low of $169.02 and a 52-week high of $281.04. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 19.55 and a beta of 1.98.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

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.