Thrivent Financial for Lutherans Decreases Position in Installed Building Products, Inc. (NYSE:IBP)

Thrivent Financial for Lutherans decreased its position in Installed Building Products, Inc. (NYSE:IBP) by 4.2% during the 2nd quarter, Holdings Channel reports. The firm owned 19,487 shares of the construction company’s stock after selling 851 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Installed Building Products were worth $4,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Diversified Trust Co grew its stake in Installed Building Products by 2.3% in the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock valued at $416,000 after acquiring an additional 46 shares during the last quarter. Quarry LP grew its position in shares of Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after purchasing an additional 57 shares during the last quarter. CWM LLC increased its stake in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Installed Building Products by 2.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after purchasing an additional 63 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Installed Building Products by 50.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Truist Financial boosted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens reissued an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $250.40 on Friday. The business has a 50-day moving average of $227.39 and a two-hundred day moving average of $227.48. The firm has a market capitalization of $7.12 billion, a PE ratio of 28.33 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $281.04.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, research analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio is presently 15.84%.

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.