Edgestream Partners L.P. Invests $1.60 Million in Installed Building Products, Inc. (NYSE:IBP)

Edgestream Partners L.P. purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,381 shares of the construction company’s stock, valued at approximately $1,595,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Installed Building Products by 112.4% during the 1st quarter. Covestor Ltd now owns 582 shares of the construction company’s stock worth $49,000 after buying an additional 308 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Installed Building Products in the 4th quarter valued at approximately $49,000. Strs Ohio acquired a new stake in Installed Building Products in the 1st quarter valued at approximately $68,000. US Bancorp DE increased its holdings in Installed Building Products by 291.4% in the 1st quarter. US Bancorp DE now owns 685 shares of the construction company’s stock valued at $78,000 after purchasing an additional 510 shares during the last quarter. Finally, State of Wyoming increased its holdings in Installed Building Products by 24.4% in the 4th quarter. State of Wyoming now owns 913 shares of the construction company’s stock valued at $78,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $147.02 on Tuesday. Installed Building Products, Inc. has a 12-month low of $77.12 and a 12-month high of $158.18. The stock has a market cap of $4.18 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 1.83 and a beta of 1.79. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.34. The company has a fifty day simple moving average of $122.49 and a 200-day simple moving average of $129.51.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Stockholders of record on Friday, December 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.90%. Installed Building Products’s payout ratio is 15.10%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research reports. Seaport Res Ptn reiterated a “buy” rating on shares of Installed Building Products in a report on Tuesday, August 1st. Benchmark lifted their target price on shares of Installed Building Products from $150.00 to $170.00 and gave the company a “buy” rating in a report on Friday, November 10th. Evercore ISI upgraded shares of Installed Building Products from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $165.00 in a report on Thursday, November 9th. Royal Bank of Canada lifted their target price on shares of Installed Building Products from $111.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Finally, Truist Financial dropped their price target on shares of Installed Building Products from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.