Victory Capital Management Inc. Sells 4,498 Shares of Installed Building Products, Inc. (NYSE:IBP)

Victory Capital Management Inc. decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,446 shares of the construction company’s stock after selling 4,498 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Installed Building Products worth $9,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB boosted its stake in shares of Installed Building Products by 11.6% during the second 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 during the period. Bank of New York Mellon Corp lifted its stake in 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 worth $46,572,000 after acquiring an additional 4,943 shares during the period. Price T Rowe Associates Inc. MD lifted 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 worth $51,107,000 after acquiring an additional 183,696 shares during the period. Finally, Millennium Management LLC lifted its stake in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $211.24 on Friday. Installed Building Products, Inc. has a twelve month low of $144.15 and a twelve month high of $281.04. The company’s 50 day moving average is $230.83 and its 200 day moving average is $223.39. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.94 billion, a PE ratio of 23.17 and a beta of 1.95.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.66%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson decreased their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. 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 report on Wednesday, October 9th. Finally, Evercore ISI upped their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $252.30.

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.