Fortress Financial Group LLC Makes New Investment in Installed Building Products, Inc. (NYSE:IBP)

Fortress Financial Group LLC bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,354 shares of the construction company’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products during the third quarter valued at about $54,499,000. Wellington Management Group LLP bought a new stake in Installed Building Products during the third quarter valued at about $34,635,000. State Street Corp grew its position in shares of 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 valued at $307,472,000 after purchasing an additional 96,780 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Installed Building Products by 25.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after purchasing an additional 83,205 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.8 %

Shares of IBP stock opened at $170.59 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm has a fifty day moving average of $183.46 and a 200-day moving average of $209.19. Installed Building Products, Inc. has a 52-week low of $162.20 and a 52-week high of $281.04. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 18.95 and a beta of 1.99.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBP. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. 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 note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $240.40.

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.