Swedbank AB lifted its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 415,000 shares of the construction company's stock after purchasing an additional 43,000 shares during the quarter. Swedbank AB owned about 1.46% of Installed Building Products worth $85,357,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IBP. International Assets Investment Management LLC purchased a new stake in Installed Building Products in the 4th quarter valued at about $838,000. Cerity Partners LLC raised its stake in Installed Building Products by 26.2% during the 4th quarter. Cerity Partners LLC now owns 4,639 shares of the construction company's stock worth $849,000 after acquiring an additional 963 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Installed Building Products in the 4th quarter valued at about $2,157,000. Strs Ohio boosted its stake in Installed Building Products by 35.7% during the 4th quarter. Strs Ohio now owns 1,900 shares of the construction company's stock worth $347,000 after purchasing an additional 500 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Installed Building Products during the fourth quarter worth about $276,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Wall Street Analyst Weigh In
IBP has been the topic of several analyst reports. Evercore ISI lifted their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Loop Capital lifted their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a "buy" rating in a report on Friday, May 10th. Benchmark increased their target price on Installed Building Products from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, May 14th. Stephens restated an "equal weight" rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Finally, Truist Financial upped their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of "Hold" and a consensus price target of $255.20.
Get Our Latest Analysis on IBP
Insider Buying and Selling at Installed Building Products
In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the business's stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.50% of the stock is owned by company insiders.
Installed Building Products Trading Down 2.1 %
Shares of Installed Building Products stock traded down $4.46 during trading hours on Friday, reaching $206.82. 244,197 shares of the company's stock were exchanged, compared to its average volume of 302,469. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $281.04. The company has a fifty day moving average of $221.08 and a 200-day moving average of $226.26. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 23.40 and a beta of 1.93.
Installed Building Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. Installed Building Products's dividend payout ratio (DPR) is presently 15.84%.
About Installed Building Products
(
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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