Oppenheimer Asset Management Inc. Makes New Investment in Installed Building Products, Inc. (NYSE:IBP)

Oppenheimer Asset Management Inc. acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 986 shares of the construction company’s stock, valued at approximately $243,000.

A number of other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Installed Building Products during the first quarter valued at about $96,248,000. Price T Rowe Associates Inc. MD increased its position in shares of Installed Building Products by 1,328.2% during 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 last quarter. Millennium Management LLC grew its position in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the period. Leeward Investments LLC MA purchased a new position in Installed Building Products in the third quarter valued at approximately $17,972,000. Finally, Renaissance Technologies LLC raised its stake in Installed Building Products by 2,912.0% in the 2nd 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. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. DA Davidson lowered their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $252.30.

Installed Building Products Stock Performance

Shares of IBP stock opened at $208.53 on Thursday. Installed Building Products, Inc. has a one year low of $143.97 and a one year high of $281.04. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 23.17 and a beta of 1.95. The company’s 50-day moving average is $230.78 and its 200 day moving average is $223.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Announces Dividend

The firm 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 $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.67%. 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.