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

Thrivent Financial for Lutherans lifted its position in Installed Building Products, Inc. (NYSE:IBP) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 95,602 shares of the construction company’s stock after purchasing an additional 2,163 shares during the period. Thrivent Financial for Lutherans’ holdings in Installed Building Products were worth $16,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IBP. Curio Wealth LLC purchased a new position in Installed Building Products in the fourth quarter worth about $30,000. Advisors Asset Management Inc. lifted its stake in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the period. Quarry LP boosted its holdings in shares of Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in Installed Building Products during the third quarter valued at approximately $111,000. Institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBP. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. DA Davidson lowered their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $219.40.

Installed Building Products Trading Down 1.4 %

Installed Building Products stock opened at $172.37 on Friday. Installed Building Products, Inc. has a 1 year low of $159.77 and a 1 year high of $281.04. The firm’s 50 day moving average price is $182.19 and its 200-day moving average price is $203.88. 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 stock has a market cap of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05.

Installed Building Products Increases Dividend

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

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.