Swiss National Bank Trims Holdings in Installed Building Products, Inc. (NYSE:IBP)

Swiss National Bank cut its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 46,933 shares of the construction company’s stock after selling 500 shares during the quarter. Swiss National Bank’s holdings in Installed Building Products were worth $11,558,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Swedbank AB grew its stake in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Installed Building Products by 6.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock worth $81,063,000 after purchasing an additional 20,155 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after purchasing an additional 4,943 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 2.8 %

Shares of NYSE IBP opened at $217.09 on Friday. The stock has a fifty day moving average price of $230.72 and a 200 day moving average price of $223.09. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12-month low of $144.15 and a 12-month high of $281.04. The company has a market cap of $6.11 billion, a P/E ratio of 24.10 and a beta of 1.95.

Installed Building Products Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on IBP. Jefferies Financial Group upped 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. Evercore ISI upped their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday. Finally, DA Davidson reduced their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average target price 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.