Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in Installed Building Products, Inc. (NYSE:IBP) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,631 shares of the construction company’s stock after acquiring an additional 486 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Installed Building Products were worth $2,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products during the 3rd quarter valued at about $54,499,000. Wellington Management Group LLP acquired a new stake in Installed Building Products during the third quarter worth about $34,635,000. State Street Corp lifted its holdings in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after acquiring an additional 96,780 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 25.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after acquiring an additional 83,205 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

IBP stock opened at $170.59 on Friday. The company has a market capitalization of $4.80 billion, a P/E ratio of 18.95 and a beta of 1.99. 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 50-day simple moving average of $183.46 and a 200 day simple moving average of $209.19. Installed Building Products, Inc. has a fifty-two week low of $162.20 and a fifty-two week high of $281.04.

Analyst Ratings Changes

A number of analysts have recently weighed in on IBP shares. The Goldman Sachs Group dropped their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Royal Bank of Canada cut 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. JPMorgan Chase & Co. upped their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, DA Davidson cut their price objective 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. Two research 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.com, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $240.40.

Installed Building Products 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.