Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Skandinaviska Enskilda Banken AB publ trimmed its stake in Installed Building Products, Inc. (NYSE:IBP) by 56.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the construction company’s stock after selling 10,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Installed Building Products were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after buying an additional 18,890 shares during the period. Duality Advisers LP boosted its position in Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after buying an additional 3,389 shares during the period. Goodnow Investment Group LLC boosted its position in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after buying an additional 20,737 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Installed Building Products in the 1st quarter valued at about $564,000. Finally, Swedbank AB raised its holdings in shares of Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after purchasing an additional 43,000 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBP has been the subject of several recent research reports. Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Evercore ISI boosted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group boosted their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada boosted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $255.20.

Installed Building Products Stock Performance

Shares of IBP opened at $243.44 on Tuesday. The stock has a 50-day moving average of $227.43 and a two-hundred day moving average of $227.17. Installed Building Products, Inc. has a one year low of $106.01 and a one year high of $281.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The stock has a market cap of $6.92 billion, a P/E ratio of 27.54 and a beta of 1.93.

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

Installed Building Products Announces Dividend

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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.58%. Installed Building Products’s payout ratio is currently 15.84%.

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.