Joseph Group Capital Management Invests $3 Million in Installed Building Products, Inc. (NYSE:IBP)

Joseph Group Capital Management purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,160 shares of the construction company’s stock, valued at approximately $2,995,000. Installed Building Products comprises about 1.1% of Joseph Group Capital Management’s investment portfolio, making the stock its 23rd biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Installed Building Products by 0.7% in the 1st 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 in the last quarter. Swedbank AB grew its holdings 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 purchasing an additional 43,000 shares during the period. Blue Trust Inc. increased its position 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 worth $784,000 after purchasing an additional 3,125 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Installed Building Products in the 1st quarter valued at about $17,806,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP opened at $205.15 on Tuesday. The stock’s 50-day moving average price is $230.77 and its 200 day moving average price is $224.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12-month low of $141.14 and a 12-month high of $281.04. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 22.79 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.68%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent analyst reports. Stephens restated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI raised their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $252.30.

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.