Axiom Investors LLC DE acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,140 shares of the construction company’s stock, valued at approximately $2,823,000. Axiom Investors LLC DE owned about 0.07% of Installed Building Products as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in IBP. ProShare Advisors LLC grew its stake in shares of Installed Building Products by 7.3% in the 2nd quarter. ProShare Advisors LLC now owns 3,694 shares of the construction company’s stock valued at $518,000 after buying an additional 252 shares during the period. Edgestream Partners L.P. purchased a new position in Installed Building Products in the second quarter worth approximately $1,595,000. Great Lakes Advisors LLC increased its stake in Installed Building Products by 2.8% during the second quarter. Great Lakes Advisors LLC now owns 99,888 shares of the construction company’s stock worth $14,000,000 after acquiring an additional 2,761 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Installed Building Products by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 236,798 shares of the construction company’s stock valued at $33,190,000 after purchasing an additional 1,185 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Installed Building Products by 7.1% in the 2nd quarter. Citigroup Inc. now owns 36,141 shares of the construction company’s stock valued at $5,066,000 after purchasing an additional 2,408 shares during the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
Installed Building Products Stock Up 2.9 %
IBP stock opened at $147.02 on Tuesday. Installed Building Products, Inc. has a fifty-two week low of $77.12 and a fifty-two week high of $158.18. The company’s 50 day moving average price is $122.49 and its 200 day moving average price is $129.51. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.59 and a current ratio of 3.08. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.83 and a beta of 1.79.
Installed Building Products Dividend Announcement
Analysts Set New Price Targets
IBP has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Installed Building Products from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Benchmark boosted their price target on shares of Installed Building Products from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Royal Bank of Canada increased their target price on Installed Building Products from $111.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 3rd. Evercore ISI upgraded Installed Building Products from an “in-line” rating to an “outperform” rating and raised their target price for the company from $150.00 to $165.00 in a report on Thursday, November 9th. Finally, Jefferies Financial Group reduced their price target on shares of Installed Building Products from $166.00 to $140.00 in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.33.
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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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