Advisors Asset Management Inc. Purchases 140 Shares of Installed Building Products, Inc. (NYSE:IBP)

Advisors Asset Management Inc. grew its position in Installed Building Products, Inc. (NYSE:IBP) by 152.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 232 shares of the construction company’s stock after purchasing an additional 140 shares during the quarter. Advisors Asset Management Inc.’s holdings in Installed Building Products were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Swedbank AB increased its position in shares of Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares in the last quarter. Blue Trust Inc. grew its stake in Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after acquiring an additional 3,125 shares during the period. Summit Global Investments acquired a new position in Installed Building Products in the second quarter valued at about $1,146,000. Creative Planning increased its holdings in shares of Installed Building Products by 39.6% in the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock worth $1,899,000 after acquiring an additional 2,187 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Installed Building Products during the second quarter worth about $581,000. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the subject of several research analyst reports. DA Davidson decreased 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. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.70.

Installed Building Products Stock Up 1.4 %

Installed Building Products stock opened at $228.74 on Friday. The company has a fifty day simple moving average of $229.82 and a 200 day simple moving average of $222.84. 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 $148.59 and a 1-year high of $281.04. The company has a market cap of $6.44 billion, a P/E ratio of 25.42 and a beta of 1.95.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

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.