CIBC Asset Management Inc Purchases Shares of 823 Installed Building Products, Inc. (NYSE:IBP)

CIBC Asset Management Inc purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 823 shares of the construction company’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of the business. Curi RMB Capital LLC acquired a new position in Installed Building Products in the 3rd quarter valued at $2,378,000. Zions Bancorporation N.A. raised its holdings in Installed Building Products by 18.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,623 shares of the construction company’s stock valued at $2,862,000 after acquiring an additional 1,787 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Installed Building Products in the 3rd quarter valued at $243,000. Aigen Investment Management LP acquired a new position in Installed Building Products in the 3rd quarter valued at $586,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Installed Building Products by 4.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,425 shares of the construction company’s stock worth $843,000 after buying an additional 140 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBP. Evercore ISI increased their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. DA Davidson cut their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Truist Financial increased their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $253.70.

Installed Building Products Stock Up 2.7 %

IBP stock opened at $216.92 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 1 year low of $144.15 and a 1 year high of $281.04. The company has a fifty day simple moving average of $230.84 and a 200 day simple moving average of $223.31. The firm has a market cap of $6.10 billion, a PE ratio of 23.68 and a beta of 1.95.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is 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.