New York State Common Retirement Fund Acquires 20,860 Shares of Installed Building Products, Inc. (NYSE:IBP)

New York State Common Retirement Fund raised its position in Installed Building Products, Inc. (NYSE:IBP) by 29.3% in the third quarter, HoldingsChannel reports. The fund owned 92,077 shares of the construction company’s stock after purchasing an additional 20,860 shares during the quarter. New York State Common Retirement Fund’s holdings in Installed Building Products were worth $22,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. Swedbank AB acquired a new stake in Installed Building Products in the first quarter valued at approximately $96,248,000. Price T Rowe Associates Inc. MD grew its stake in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares during the period. Millennium Management LLC grew its stake in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after acquiring an additional 114,259 shares during the period. Renaissance Technologies LLC grew its stake in Installed Building Products by 2,912.0% in the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after acquiring an additional 72,800 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Installed Building Products in the first quarter valued at approximately $17,806,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the subject of a number of research reports. Stephens reissued an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Royal Bank of Canada raised their target price on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $254.40.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $221.07 on Tuesday. The business’s fifty day simple moving average is $231.10 and its 200 day simple moving average is $225.38. The firm has a market capitalization of $6.24 billion, a P/E ratio of 24.67 and a beta of 1.95. Installed Building Products, Inc. has a 12 month low of $115.25 and a 12 month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

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.