State of New Jersey Common Pension Fund D Boosts Stock Position in Installed Building Products, Inc. (NYSE:IBP)

State of New Jersey Common Pension Fund D raised its position in Installed Building Products, Inc. (NYSE:IBP) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,145 shares of the construction company’s stock after acquiring an additional 505 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Installed Building Products were worth $1,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its stake in shares of Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after buying an additional 186 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Installed Building Products by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 11,718 shares of the construction company’s stock worth $2,054,000 after purchasing an additional 200 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Installed Building Products by 21.7% during the 4th quarter. Van ECK Associates Corp now owns 26,447 shares of the construction company’s stock worth $4,635,000 after purchasing an additional 4,711 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after purchasing an additional 83,205 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Installed Building Products by 49.7% in the 4th quarter. WCM Investment Management LLC now owns 91,415 shares of the construction company’s stock valued at $15,950,000 after purchasing an additional 30,364 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP stock opened at $170.89 on Wednesday. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 18.99 and a beta of 1.99. The stock’s fifty day simple moving average is $183.67 and its 200-day simple moving average is $209.45. Installed Building Products, Inc. has a 52-week low of $162.20 and a 52-week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $203.00 to $197.00 in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. DA Davidson dropped their price target 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. Finally, Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $240.40.

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.