Jupiter Asset Management Ltd. acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,023 shares of the construction company’s stock, valued at approximately $378,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBP. BlackRock Inc. raised its stake in Installed Building Products by 10.0% during the 1st quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after buying an additional 405,604 shares during the last quarter. Vanguard Group Inc. increased its position in Installed Building Products by 13.2% during the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after acquiring an additional 329,661 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in Installed Building Products by 67.4% in the second quarter. Driehaus Capital Management LLC now owns 540,850 shares of the construction company’s stock valued at $75,806,000 after acquiring an additional 217,671 shares during the period. Stephens Investment Management Group LLC purchased a new position in Installed Building Products in the second quarter worth about $29,964,000. Finally, Norges Bank bought a new stake in shares of Installed Building Products during the 4th quarter valued at about $16,658,000. Institutional investors own 82.62% of the company’s stock.
Insider Buying and Selling
In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $164.62, for a total transaction of $823,100.00. Following the completion of the transaction, the insider now owns 42,358 shares of the company’s stock, valued at approximately $6,972,973.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.90% of the stock is owned by company insiders.
Installed Building Products Trading Up 0.6 %
Analysts Set New Price Targets
IBP has been the topic of a number of research reports. Evercore ISI raised shares of Installed Building Products from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $165.00 in a report on Thursday, November 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Truist Financial cut Installed Building Products from a “buy” rating to a “hold” rating and lifted their price objective for the company from $160.00 to $200.00 in a research report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.33.
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.
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