Van ECK Associates Corp Has $3.53 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Van ECK Associates Corp raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,174 shares of the construction company’s stock after buying an additional 2,270 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Installed Building Products worth $3,533,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in shares of Installed Building Products during the 4th quarter worth about $7,820,000. Vanguard Group Inc. lifted its holdings in shares of Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after purchasing an additional 18,890 shares in the last quarter. Duality Advisers LP lifted its holdings in shares of Installed Building Products by 32.2% during the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after purchasing an additional 3,389 shares in the last quarter. Goodnow Investment Group LLC lifted its holdings in shares of Installed Building Products by 28.9% during the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after purchasing an additional 20,737 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Installed Building Products during the 1st quarter valued at about $564,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IBP shares. JPMorgan Chase & Co. cut their target price on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Benchmark boosted their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group boosted their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price target on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, Loop Capital boosted their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.20.

Installed Building Products Stock Up 0.2 %

IBP stock opened at $209.27 on Thursday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.67 and a beta of 1.93. Installed Building Products, Inc. has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The business’s fifty day moving average price is $224.01 and its two-hundred day moving average price is $227.84.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. On average, equities analysts anticipate that Installed Building Products, Inc. will post 11.14 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

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.