Swiss National Bank Increases Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Swiss National Bank lifted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,233 shares of the construction company’s stock after acquiring an additional 300 shares during the period. Swiss National Bank owned 0.17% of Installed Building Products worth $8,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IBP. CIBC Asset Management Inc purchased a new position in shares of Installed Building Products during the third quarter worth approximately $203,000. Pathstone Holdings LLC grew its position in shares of Installed Building Products by 91.6% during the third quarter. Pathstone Holdings LLC now owns 7,102 shares of the construction company’s stock worth $1,749,000 after acquiring an additional 3,396 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Installed Building Products in the 3rd quarter valued at $2,418,000. Advisors Asset Management Inc. grew its position in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Installed Building Products by 496.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock valued at $4,150,000 after buying an additional 14,024 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBP has been the topic of a number of analyst reports. DA Davidson lowered their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Benchmark lowered their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Loop Capital lowered their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.40.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $172.37 on Friday. The firm has a market capitalization of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05. 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 one year low of $159.77 and a one year high of $281.04. The company’s fifty day moving average is $182.19 and its two-hundred day moving average is $203.88.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is 16.26%.

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.