Castleark Management LLC Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Castleark Management LLC decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,450 shares of the construction company’s stock after selling 1,030 shares during the quarter. Castleark Management LLC owned 0.10% of Installed Building Products worth $7,006,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IBP. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. grew its holdings in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the period. CWM LLC lifted its stake in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the last quarter. Finally, Quarry LP boosted its holdings in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBP has been the topic of a number of analyst reports. Evercore ISI lifted their price target 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 upped their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday. DA Davidson dropped their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $253.70.

Installed Building Products Trading Up 0.4 %

NYSE IBP opened at $214.37 on Friday. 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 firm has a market capitalization of $6.03 billion, a PE ratio of 23.82 and a beta of 1.93. The stock’s 50 day moving average is $227.40 and its 200 day moving average is $222.84. Installed Building Products, Inc. has a twelve month low of $158.50 and a twelve month high of $281.04.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

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.