WCM Investment Management LLC Takes $15.29 Million Position in Installed Building Products, Inc. (NYSE:IBP)

WCM Investment Management LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 61,051 shares of the construction company’s stock, valued at approximately $15,287,000. WCM Investment Management LLC owned about 0.22% of Installed Building Products as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IBP. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products during the first quarter valued at approximately $29,000. Concurrent Investment Advisors LLC purchased a new stake in Installed Building Products during the first quarter valued at approximately $564,000. Headlands Technologies LLC purchased a new stake in Installed Building Products during the first quarter valued at approximately $68,000. Russell Investments Group Ltd. increased its holdings in Installed Building Products by 13,898.5% during the first quarter. Russell Investments Group Ltd. now owns 19,178 shares of the construction company’s stock valued at $4,962,000 after buying an additional 19,041 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Installed Building Products by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,775 shares of the construction company’s stock valued at $1,235,000 after buying an additional 327 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $210.74 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.59 and a current ratio of 2.99. The firm has a fifty day moving average price of $231.09 and a 200 day moving average price of $225.16. Installed Building Products, Inc. has a fifty-two week low of $124.01 and a fifty-two week high of $281.04. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 23.42 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.66%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.56%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore ISI upped their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial upped their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $203.00 to $197.00 in a research note on Friday. Stephens reissued an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Finally, Jefferies Financial Group increased their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $252.30.

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.