Swedbank AB Sells 154,000 Shares of Installed Building Products, Inc. (NYSE:IBP)

Swedbank AB lowered its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 37.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,000 shares of the construction company's stock after selling 154,000 shares during the period. Swedbank AB owned about 0.92% of Installed Building Products worth $64,276,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company's stock worth $784,000 after acquiring an additional 3,125 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock worth $51,107,000 after acquiring an additional 183,696 shares in the last quarter. Summit Global Investments purchased a new position in shares of Installed Building Products in the second quarter worth approximately $1,146,000. Creative Planning increased its position in shares of Installed Building Products by 39.6% in the third quarter. Creative Planning now owns 7,712 shares of the construction company's stock worth $1,899,000 after acquiring an additional 2,187 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Installed Building Products in the second quarter worth approximately $581,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Up 8.6 %

NYSE IBP traded up $18.74 during trading on Monday, reaching $235.83. The company's stock had a trading volume of 477,906 shares, compared to its average volume of 295,155. The business has a 50-day moving average price of $230.72 and a 200-day moving average price of $222.93. 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, Inc. has a 1-year low of $145.13 and a 1-year high of $281.04. The stock has a market capitalization of $6.64 billion, a PE ratio of 26.01 and a beta of 1.95.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's payout ratio is 15.56%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DA Davidson dropped 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. Stephens restated an "equal weight" rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI raised their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. 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 report on Wednesday, October 9th. Finally, Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a 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 issued a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of "Hold" and a consensus target price of $253.70.

About Installed Building Products

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.