Quest Partners LLC Has $253,000 Stake in Installed Building Products, Inc. (NYSE:IBP)

Quest Partners LLC lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 79.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,029 shares of the construction company’s stock after selling 3,970 shares during the quarter. Quest Partners LLC’s holdings in Installed Building Products were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in shares of Installed Building Products during the 1st quarter valued at $96,248,000. Price T Rowe Associates Inc. MD lifted its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares during the period. 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 worth $29,446,000 after purchasing an additional 114,259 shares during the period. Thrivent Financial for Lutherans grew its stake in Installed Building Products by 379.5% during the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company’s stock worth $23,012,000 after buying an additional 73,952 shares in the last quarter. Finally, Leeward Investments LLC MA bought a new position in Installed Building Products in the 3rd quarter valued at about $17,972,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $225.42 on Wednesday. The stock has a 50-day moving average price of $230.91 and a two-hundred day moving average price of $222.92. Installed Building Products, Inc. has a 12 month low of $145.13 and a 12 month high of $281.04. The company has a market capitalization of $6.34 billion, a PE ratio of 25.05 and a beta of 1.95. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.62%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a report on Friday, November 8th. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group upped their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.