Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 37.1% in the third quarter, Holdings Channel.com reports. The fund owned 261,000 shares of the construction company’s stock after selling 154,000 shares during the period. Swedbank AB’s holdings in Installed Building Products were worth $64,276,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IBP. Price T Rowe Associates Inc. MD boosted its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Installed Building Products by 3.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,228 shares of the construction company’s stock worth $5,232,000 after buying an additional 606 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Installed Building Products by 43.2% in the 1st quarter. Virtu Financial LLC now owns 6,772 shares of the construction company’s stock worth $1,752,000 after buying an additional 2,043 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Installed Building Products in the 1st quarter valued at about $372,000. Finally, Tactive Advisors LLC purchased a new position in Installed Building Products during the 1st quarter valued at about $346,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 2.8 %

IBP opened at $217.09 on Monday. Installed Building Products, Inc. has a 12 month low of $144.15 and a 12 month high of $281.04. The business has a 50-day moving average of $230.72 and a two-hundred day moving average of $222.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 24.12 and a beta of 1.95.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Analysts Set New Price Targets

IBP has been the topic of several recent research reports. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, November 15th. The Goldman Sachs Group increased their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stephens reissued an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.70.

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.