Swedbank AB Reduces Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Swedbank AB cut its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 37.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,000 shares of the construction company’s stock after selling 154,000 shares during the period. Swedbank AB owned approximately 0.92% of Installed Building Products worth $64,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of Installed Building Products by 54.0% during the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after buying an additional 16,569 shares during the period. Eagle Asset Management Inc. increased its stake in Installed Building Products by 48.2% during the third quarter. Eagle Asset Management Inc. now owns 56,809 shares of the construction company’s stock worth $13,990,000 after acquiring an additional 18,466 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Installed Building Products by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock valued at $68,065,000 after purchasing an additional 21,942 shares during the period. L & S Advisors Inc acquired a new position in shares of Installed Building Products in the 3rd quarter valued at $3,204,000. Finally, Intech Investment Management LLC grew its holdings in shares of Installed Building Products by 496.2% during the 3rd quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after purchasing an additional 14,024 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

IBP stock opened at $217.09 on Monday. The business’s 50-day moving average is $230.72 and its two-hundred day moving average is $222.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market capitalization of $6.11 billion, a P/E ratio of 24.12 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.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.64%. Installed Building Products’s dividend payout ratio is currently 15.56%.

Analyst Ratings Changes

IBP has been the topic of a number of recent analyst reports. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Jefferies Financial Group boosted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Evercore ISI boosted their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One investment 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, the stock presently 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.