Swedbank AB grew its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,000 shares of the construction company's stock after purchasing an additional 69,000 shares during the period. Swedbank AB owned about 1.17% of Installed Building Products worth $57,832,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company's stock worth $3,963,000 after buying an additional 8,815 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products in the third quarter valued at approximately $54,499,000. Creative Planning boosted its stake in shares of Installed Building Products by 39.6% during the third quarter. Creative Planning now owns 7,712 shares of the construction company's stock valued at $1,899,000 after purchasing an additional 2,187 shares during the period. Natixis Advisors LLC grew its holdings in shares of Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company's stock worth $18,286,000 after purchasing an additional 4,451 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Installed Building Products by 54.0% during the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company's stock valued at $11,633,000 after buying an additional 16,569 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
IBP has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective 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. Evercore ISI lowered Installed Building Products from an "outperform" rating to an "underperform" rating and lowered their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn lowered Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and reduced their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of "Hold" and a consensus target price of $240.40.
Get Our Latest Stock Report on IBP
Installed Building Products Stock Up 3.3 %
Shares of Installed Building Products stock traded up $6.52 during trading on Thursday, hitting $203.81. The company's stock had a trading volume of 50,360 shares, compared to its average volume of 288,320. Installed Building Products, Inc. has a 52 week low of $169.02 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 company has a fifty day simple moving average of $196.57 and a two-hundred day simple moving average of $217.57. The company has a market capitalization of $5.74 billion, a PE ratio of 22.65 and a beta of 1.98.
Installed Building Products Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were given a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.69%. Installed Building Products's dividend payout ratio is currently 15.56%.
Installed Building Products Company Profile
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Free Report)
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.
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