Principal Financial Group Inc. Decreases Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Principal Financial Group Inc. lowered its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 122,405 shares of the construction company’s stock after selling 2,979 shares during the period. Principal Financial Group Inc.’s holdings in Installed Building Products were worth $30,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter worth approximately $54,499,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Installed Building Products by 121.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after buying an additional 8,815 shares during the last quarter. Creative Planning grew its stake in shares of Installed Building Products by 39.6% during the 3rd 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 during the period. Natixis Advisors LLC raised its stake in Installed Building Products by 6.4% in the 3rd quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after acquiring an additional 4,451 shares during the period. Finally, Citigroup Inc. raised its stake in Installed Building Products by 54.0% in the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after acquiring an additional 16,569 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $177.24 on Wednesday. The company’s fifty day moving average price is $217.07 and its 200-day moving average price is $221.75. 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 $4.99 billion, a price-to-earnings 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.

Installed Building Products Dividend Announcement

The company also recently announced 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 0.79%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IBP shares. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Company 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.