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

Thrivent Financial for Lutherans lifted its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,602 shares of the construction company’s stock after purchasing an additional 2,163 shares during the period. Thrivent Financial for Lutherans owned 0.34% of Installed Building Products worth $16,754,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC bought a new position in shares of Installed Building Products in the 3rd quarter worth approximately $54,499,000. Wellington Management Group LLP purchased a new position in shares of Installed Building Products in the 3rd quarter valued at approximately $34,635,000. Raymond James Financial Inc. bought a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $23,776,000. Finally, State Street Corp grew its stake in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.4 %

IBP stock opened at $172.37 on Friday. The stock has a market capitalization of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The business has a fifty day moving average price of $182.19 and a 200-day moving average price of $203.88.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Installed Building Products’s payout ratio is 16.26%.

Analysts Set New Price Targets

Several equities analysts have commented on IBP shares. Benchmark lowered their price objective on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Loop Capital lowered their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $219.40.

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.