HighTower Advisors LLC Makes New $260,000 Investment in Installed Building Products, Inc. (NYSE:IBP)

HighTower Advisors LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,077 shares of the construction company’s stock, valued at approximately $260,000.

Several other hedge funds have also recently modified their holdings of IBP. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter valued at approximately $29,000. GHP Investment Advisors Inc. raised its stake in Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Installed Building Products in the 3rd quarter worth $111,000. Finally, GAMMA Investing LLC increased its holdings in shares of Installed Building Products by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on IBP shares. JPMorgan Chase & Co. increased their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted 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. Evercore ISI downgraded 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 research report on Monday, December 16th. Finally, Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $247.10.

Installed Building Products Stock Performance

IBP stock opened at $177.24 on Wednesday. Installed Building Products, Inc. has a twelve month low of $168.08 and a twelve month high of $281.04. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 19.69 and a beta of 1.93. The business’s fifty day simple moving average is $217.07 and its two-hundred day simple moving average is $221.75. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.79%. Installed Building Products’s payout ratio is 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.