Premier Fund Managers Ltd Purchases 23,532 Shares of Installed Building Products, Inc. (NYSE:IBP)

Premier Fund Managers Ltd increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 41.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 80,108 shares of the construction company’s stock after purchasing an additional 23,532 shares during the period. Premier Fund Managers Ltd’s holdings in Installed Building Products were worth $20,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBP. Swedbank AB acquired a new position in shares of Installed Building Products during the 1st quarter worth about $96,248,000. Price T Rowe Associates Inc. MD grew its holdings 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. Millennium Management LLC increased 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 worth $29,446,000 after buying an additional 114,259 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Installed Building Products by 379.5% in the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company’s stock valued at $23,012,000 after buying an additional 73,952 shares during the period. Finally, Leeward Investments LLC MA acquired a new stake in shares of Installed Building Products in the third quarter valued at approximately $17,972,000. 99.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group boosted 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. Stephens reiterated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. The Goldman Sachs Group raised their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI upped their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $252.30.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $206.95 on Wednesday. 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 stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.99 and a beta of 1.95. Installed Building Products, Inc. has a twelve month low of $141.14 and a twelve month high of $281.04. The company has a 50-day simple moving average of $230.78 and a two-hundred day simple moving average of $223.76.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. 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.