Louisiana State Employees Retirement System Sells 100 Shares of Installed Building Products, Inc. (NYSE:IBP)

Louisiana State Employees Retirement System lessened its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,200 shares of the construction company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Installed Building Products were worth $1,963,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IBP. FMR LLC raised its position in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in shares of Installed Building Products in the third quarter valued at approximately $54,499,000. Wellington Management Group LLP bought a new position in Installed Building Products in the 3rd quarter valued at approximately $34,635,000. State Street Corp boosted its position in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Installed Building Products by 25.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after acquiring an additional 83,205 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBP shares. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson cut their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group reduced their price target on 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. JPMorgan Chase & Co. raised their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada cut 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

IBP opened at $178.09 on Friday. Installed Building Products, Inc. has a 1-year low of $169.02 and a 1-year high of $281.04. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 19.79 and a beta of 1.99. The company’s fifty day moving average price is $188.28 and its two-hundred day moving average price is $212.75. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

About Installed Building Products

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.