Principal Financial Group Inc. decreased its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 122,405 shares of the construction company's stock after selling 2,979 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Installed Building Products worth $30,145,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products in the 1st quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. lifted its stake in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. CWM LLC lifted its stake in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company's stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Installed Building Products in the 1st quarter worth about $68,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Analyst Upgrades and Downgrades
IBP has been the subject of several research analyst reports. Evercore ISI increased their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. StockNews.com downgraded Installed Building Products from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Royal Bank of Canada downgraded Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $252.30.
Get Our Latest Report on Installed Building Products
Installed Building Products Stock Performance
Installed Building Products stock traded up $4.17 on Wednesday, reaching $211.82. 121,806 shares of the stock were exchanged, compared to its average volume of 293,827. The stock has a market cap of $5.96 billion, a PE ratio of 23.50 and a beta of 1.95. The firm has a fifty day moving average price of $230.84 and a two-hundred day moving average price of $224.77. Installed Building Products, Inc. has a twelve month low of $132.33 and a twelve month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.
Installed Building Products Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's dividend payout ratio (DPR) is currently 15.56%.
Installed Building Products 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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