Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 379.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,439 shares of the construction company’s stock after buying an additional 73,952 shares during the period. Thrivent Financial for Lutherans owned about 0.33% of Installed Building Products worth $23,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products during the 1st quarter worth $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at $29,000. GHP Investment Advisors Inc. raised its position 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 valued at $30,000 after purchasing an additional 78 shares in the last quarter. CWM LLC lifted its stake in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Installed Building Products by 41.7% in the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock valued at $160,000 after buying an additional 191 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.9 %

Shares of IBP stock opened at $206.95 on Wednesday. The company has a market capitalization of $5.82 billion, a P/E ratio of 22.99 and a beta of 1.95. 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 business’s 50 day moving average is $230.78 and its two-hundred day moving average is $223.76. Installed Building Products, Inc. has a twelve month low of $141.14 and a twelve month high of $281.04.

Installed Building Products Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. Installed Building Products’s payout ratio is currently 15.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group raised their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Truist Financial boosted their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $252.30.

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.