Victory Capital Management Inc. Sells 4,498 Shares of Installed Building Products, Inc. (NYSE:IBP)

Victory Capital Management Inc. trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,446 shares of the construction company's stock after selling 4,498 shares during the quarter. Victory Capital Management Inc. owned 0.13% of Installed Building Products worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company's stock worth $683,421,000 after purchasing an additional 18,890 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Installed Building Products by 32.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,979 shares of the construction company's stock worth $1,030,000 after buying an additional 972 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Installed Building Products by 8.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,881 shares of the construction company's stock valued at $6,175,000 after buying an additional 1,840 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $51,107,000 after acquiring an additional 183,696 shares during the period. Finally, Ascent Group LLC grew its position in Installed Building Products by 8.0% in the first quarter. Ascent Group LLC now owns 16,062 shares of the construction company's stock valued at $4,156,000 after acquiring an additional 1,189 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Trading Up 2.7 %

IBP traded up $5.68 during mid-day trading on Friday, hitting $216.92. The stock had a trading volume of 349,108 shares, compared to its average volume of 294,350. The stock's fifty day simple moving average is $230.84 and its 200-day simple moving average is $223.31. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 23.68 and a beta of 1.95. Installed Building Products, Inc. has a 1-year low of $144.15 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, December 13th. Installed Building Products's dividend payout ratio is currently 15.56%.

Wall Street Analyst Weigh In

IBP has been the subject of a number of analyst reports. DA Davidson cut their price objective on Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a report on Friday, November 8th. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Evercore ISI upped their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and dropped their price objective for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Finally, Truist Financial boosted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.