HighTower Advisors LLC Acquires Shares of 1,077 Installed Building Products, Inc. (NYSE:IBP)

HighTower Advisors LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,077 shares of the construction company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently made changes to their positions in IBP. V Square Quantitative Management LLC bought a new stake in Installed Building Products during the third quarter worth about $29,000. GHP Investment Advisors Inc. increased its position in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 buying an additional 140 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Installed Building Products in the third quarter worth $111,000. Finally, GAMMA Investing LLC grew its stake in shares of Installed Building Products by 41.7% in the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBP. Evercore ISI lowered 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. JPMorgan Chase & Co. lifted their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson cut their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $247.10.

Installed Building Products Stock Down 0.5 %

NYSE IBP opened at $177.24 on Wednesday. Installed Building Products, Inc. has a 52 week low of $168.08 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. The company has a market capitalization of $4.99 billion, a P/E ratio of 19.69 and a beta of 1.93. The stock’s 50-day moving average price is $217.07 and its 200-day moving average price is $221.75.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

About Installed Building Products

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.