Glenmede Trust Co. NA Takes Position in Installed Building Products, Inc. (NYSE:IBP)

Glenmede Trust Co. NA bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,546 shares of the construction company’s stock, valued at approximately $627,000.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter valued at about $29,000. GHP Investment Advisors Inc. lifted its position in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. CWM LLC boosted its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Installed Building Products by 152.2% during 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 in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in Installed Building Products in the 3rd quarter worth approximately $111,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IBP. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday. DA Davidson dropped 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 note on Friday, November 8th. Jefferies Financial Group upped their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Evercore ISI upped their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.70.

Installed Building Products Price Performance

IBP opened at $223.29 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $229.07 and a 200 day moving average of $222.90. Installed Building Products, Inc. has a 52-week low of $152.06 and a 52-week high of $281.04. The stock has a market cap of $6.28 billion, a P/E ratio of 24.81 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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is presently 15.56%.

Installed Building Products Company 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.