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

Castleark Management LLC cut its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,450 shares of the construction company’s stock after selling 1,030 shares during the period. Castleark Management LLC’s holdings in Installed Building Products were worth $7,006,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted 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 valued at $237,786,000 after purchasing an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Installed Building Products during the 3rd quarter valued at about $54,499,000. Wellington Management Group LLP bought a new stake in shares of Installed Building Products in the third quarter worth approximately $34,635,000. Millennium Management LLC lifted its position in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after purchasing an additional 114,259 shares during the period. Finally, State Street Corp boosted 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 purchasing an additional 96,780 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP stock opened at $214.37 on Friday. The company has a market capitalization of $6.03 billion, a PE ratio of 23.82 and a beta of 1.93. The company’s fifty day moving average price is $227.40 and its 200-day moving average price is $222.84. Installed Building Products, Inc. has a one year low of $158.50 and a one year high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on IBP. JPMorgan Chase & Co. lifted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. DA Davidson cut 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 research report on Friday, November 8th. Evercore ISI increased their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $253.70.

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.