Thrivent Financial for Lutherans Purchases 73,952 Shares of Installed Building Products, Inc. (NYSE:IBP)

Thrivent Financial for Lutherans raised its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 379.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,439 shares of the construction company's stock after purchasing an additional 73,952 shares during the quarter. Thrivent Financial for Lutherans owned 0.33% of Installed Building Products worth $23,012,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products in the 1st quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new position in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. lifted its position in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after buying an additional 78 shares in the last quarter. CWM LLC lifted its holdings in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company's stock valued at $52,000 after purchasing an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Installed Building Products by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company's stock worth $160,000 after buying an additional 191 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded up $1.74 during trading on Wednesday, reaching $208.65. The company's stock had a trading volume of 172,876 shares, compared to its average volume of 294,127. The business's fifty day moving average price is $230.78 and its 200-day moving average price is $223.50. Installed Building Products, Inc. has a one year low of $143.97 and a one year high of $281.04. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 22.95 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's payout ratio is currently 15.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Stephens restated an "equal weight" rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Finally, Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.