Principal Financial Group Inc. Trims Position in Installed Building Products, Inc. (NYSE:IBP)

Principal Financial Group Inc. decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,405 shares of the construction company’s stock after selling 2,979 shares during the quarter. Principal Financial Group Inc.’s holdings in Installed Building Products were worth $30,145,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IBP. Leeward Investments LLC MA purchased a new stake in Installed Building Products during the 3rd quarter valued at approximately $17,972,000. PDS Planning Inc purchased a new position in Installed Building Products during the third quarter valued at $211,000. Emerald Advisers LLC grew its stake in Installed Building Products by 2.7% during the third quarter. Emerald Advisers LLC now owns 54,656 shares of the construction company’s stock valued at $13,460,000 after acquiring an additional 1,419 shares in the last quarter. Van ECK Associates Corp increased its holdings in Installed Building Products by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 21,736 shares of the construction company’s stock valued at $4,936,000 after acquiring an additional 4,562 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Installed Building Products by 9.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,782 shares of the construction company’s stock worth $439,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the topic of several research reports. 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 research report on Friday, August 2nd. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson decreased their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Trading Down 1.5 %

IBP opened at $207.65 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.59 and a current ratio of 2.99. The stock’s 50 day moving average price is $230.84 and its 200-day moving average price is $224.77. Installed Building Products, Inc. has a one year low of $124.01 and a one year high of $281.04. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 23.07 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Installed Building Products 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.