Renaissance Technologies LLC Acquires 17,900 Shares of Installed Building Products, Inc. (NYSE:IBP)

Renaissance Technologies LLC increased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 365.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,800 shares of the construction company's stock after purchasing an additional 17,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Installed Building Products worth $3,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in Installed Building Products during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC boosted its holdings in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after purchasing an additional 272 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company's stock worth $127,000 after purchasing an additional 647 shares during the last quarter. HighTower Advisors LLC purchased a new position in Installed Building Products during the third quarter worth about $260,000. Finally, Principal Securities Inc. boosted its holdings in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company's stock worth $196,000 after purchasing an additional 186 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBP. Benchmark lowered their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. DA Davidson lowered their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a research report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $216.09.

Installed Building Products Price Performance

Installed Building Products stock traded down $0.49 during midday trading on Monday, reaching $168.04. 177,683 shares of the stock were exchanged, compared to its average volume of 334,023. Installed Building Products, Inc. has a 52 week low of $151.27 and a 52 week 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. The firm has a market cap of $4.64 billion, a PE ratio of 18.67 and a beta of 1.84. The company's fifty day moving average is $169.25 and its 200-day moving average is $191.33.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.88%. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's dividend payout ratio is presently 16.26%.

Installed Building Products Company 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.