Versor Investments LP Buys New Stake in Installed Building Products, Inc. (NYSE:IBP)

Versor Investments LP acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,603 shares of the construction company’s stock, valued at approximately $641,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Swedbank AB boosted its position in shares of Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after buying an additional 4,943 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares during the period. Finally, Millennium Management LLC increased its position in shares of Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on IBP. Jefferies Financial Group lifted 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. Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada lowered 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. Evercore ISI lifted 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. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Stock Performance

Installed Building Products stock opened at $207.73 on Thursday. Installed Building Products, Inc. has a 1 year low of $132.33 and a 1 year high of $281.04. The company has a market cap of $5.85 billion, a PE ratio of 23.08 and a beta of 1.95. 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 company’s 50-day moving average is $230.81 and its two-hundred day moving average is $224.65.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is presently 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.