Bamco Inc. NY Cuts Holdings in Installed Building Products, Inc. (NYSE:IBP)

Bamco Inc. NY reduced its position in Installed Building Products, Inc. (NYSE:IBP) by 25.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 492,286 shares of the construction company’s stock after selling 168,757 shares during the period. Bamco Inc. NY’s holdings in Installed Building Products were worth $121,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB raised its holdings in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares in the last quarter. Blue Trust Inc. raised its stake in Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after purchasing an additional 3,125 shares in the last quarter. Summit Global Investments bought a new position in Installed Building Products during the second quarter valued at $1,146,000. Creative Planning lifted its holdings in shares of Installed Building Products by 39.6% in the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after acquiring an additional 2,187 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $54,499,000. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Performance

Shares of IBP stock opened at $228.74 on Monday. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 25.42 and a beta of 1.95. Installed Building Products, Inc. has a 52-week low of $148.59 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’s 50 day moving average is $229.82 and its 200 day moving average is $222.77.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.61%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Analysts Set New Price Targets

Several research analysts have issued reports on IBP shares. JPMorgan Chase & Co. boosted their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. DA Davidson reduced their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Stephens reissued an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $253.70.

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.