Public Employees Retirement System of Ohio Raises Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Public Employees Retirement System of Ohio lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 366.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 854 shares of the construction company’s stock after acquiring an additional 671 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Installed Building Products were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Installed Building Products by 14.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company’s stock worth $333,000 after purchasing an additional 209 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after purchasing an additional 4,943 shares during the last quarter. Shaker Investments LLC OH increased its stake in shares of Installed Building Products by 1.3% during the 2nd quarter. Shaker Investments LLC OH now owns 9,465 shares of the construction company’s stock worth $1,947,000 after purchasing an additional 119 shares in the last quarter. Meitav Investment House Ltd. acquired a new position in shares of Installed Building Products during the 2nd quarter worth approximately $2,304,000. Finally, Arkadios Wealth Advisors lifted its stake in Installed Building Products by 2.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 0.6 %

Shares of NYSE IBP opened at $178.03 on Friday. 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 stock has a market capitalization of $5.01 billion, a PE ratio of 19.78 and a beta of 1.93. The firm has a fifty day moving average of $218.49 and a 200-day moving average of $221.98. Installed Building Products, Inc. has a 52-week low of $168.08 and a 52-week high of $281.04.

Installed Building Products Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Analysts Set New Price Targets

IBP has been the subject of several recent research reports. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson dropped their price objective on 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. 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 report on Wednesday, October 9th. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $247.10.

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.