Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,405 shares of the construction company's stock after selling 2,979 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Installed Building Products worth $30,145,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IBP. State Street Corp boosted its position in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock valued at $307,472,000 after acquiring an additional 96,780 shares during the last quarter. FMR LLC boosted its holdings in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company's stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Geode Capital Management LLC increased its position in shares of Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company's stock valued at $153,452,000 after purchasing an additional 23,179 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Installed Building Products by 6.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company's stock worth $81,063,000 after buying an additional 20,155 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Installed Building Products by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company's stock worth $68,065,000 after buying an additional 21,942 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Wednesday, December 18th. Jefferies Financial Group raised their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Seaport Res Ptn cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. DA Davidson reduced their target price on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $247.10.

Installed Building Products Stock Down 0.5 %

Shares of IBP traded down $0.97 during trading hours on Wednesday, hitting $177.24. The company had a trading volume of 85,492 shares, compared to its average volume of 292,769. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.99 billion, a PE ratio of 19.69 and a beta of 1.93. Installed Building Products, Inc. has a one year low of $168.08 and a one year high of $281.04. The company's fifty day moving average price is $215.59 and its two-hundred day moving average price is $221.52.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's payout ratio is 15.56%.

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.