Installed Building Products, Inc. (NYSE:IBP) Stake Cut by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC cut its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 36.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the construction company’s stock after selling 24,973 shares during the period. BNP Paribas Arbitrage SNC owned 0.15% of Installed Building Products worth $6,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Ameritas Investment Partners Inc. grew its holdings in Installed Building Products by 5.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,912 shares of the construction company’s stock valued at $218,000 after buying an additional 93 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Installed Building Products by 1.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,218 shares of the construction company’s stock valued at $1,152,000 after buying an additional 106 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Installed Building Products by 2.2% during the 1st quarter. Arizona State Retirement System now owns 7,044 shares of the construction company’s stock worth $803,000 after purchasing an additional 150 shares in the last quarter. State of Wyoming grew its holdings in shares of Installed Building Products by 24.4% during the 4th quarter. State of Wyoming now owns 913 shares of the construction company’s stock worth $78,000 after purchasing an additional 179 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Installed Building Products by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 4,693 shares of the construction company’s stock worth $402,000 after buying an additional 195 shares during the period. 82.62% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $147.02 on Tuesday. Installed Building Products, Inc. has a 1-year low of $77.12 and a 1-year high of $158.18. The stock has a fifty day simple moving average of $122.49 and a two-hundred day simple moving average of $129.51. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.34. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.83 and a beta of 1.79.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 31st. Stockholders of record on Friday, December 15th will be issued a $0.33 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.32 annualized dividend and a dividend yield of 0.90%. Installed Building Products’s dividend payout ratio is currently 15.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IBP. Benchmark raised their target price on Installed Building Products from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. StockNews.com initiated coverage on Installed Building Products in a report on Thursday, October 5th. They issued a “buy” rating for the company. The Goldman Sachs Group raised Installed Building Products from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $146.00 to $178.00 in a research report on Thursday, November 16th. Evercore ISI raised Installed Building Products from an “in-line” rating to an “outperform” rating and increased their price target for the company from $150.00 to $165.00 in a research report on Thursday, November 9th. Finally, Royal Bank of Canada increased their price target on Installed Building Products from $111.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.33.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.