Renaissance Technologies LLC Has $15.49 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Renaissance Technologies LLC grew its stake in Installed Building Products, Inc. (NYSE:IBP) by 2,912.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,300 shares of the construction company’s stock after buying an additional 72,800 shares during the period. Renaissance Technologies LLC owned 0.26% of Installed Building Products worth $15,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after buying an additional 18,890 shares during the period. Swedbank AB increased its stake in shares of Installed Building Products by 11.6% in the second 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 during the period. Bank of New York Mellon Corp grew its stake in Installed Building Products by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after purchasing an additional 4,943 shares during the period. Norges Bank acquired a new stake in Installed Building Products during the fourth quarter worth approximately $37,583,000. Finally, Price T Rowe Associates Inc. MD grew its stake in 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 worth $51,107,000 after purchasing an additional 183,696 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 2.8 %

IBP stock opened at $239.19 on Friday. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average is $227.25 and its 200-day moving average is $227.21. The firm has a market capitalization of $6.80 billion, a PE ratio of 27.06 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Sell-side analysts expect that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBP shares. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI raised their target price on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $255.20.

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.