Principal Financial Group Inc. Increases Holdings in Installed Building Products, Inc. (NYSE:IBP)

Principal Financial Group Inc. boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,872 shares of the construction company’s stock after purchasing an additional 4,467 shares during the period. Principal Financial Group Inc. owned about 0.45% of Installed Building Products worth $22,234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its holdings in Installed Building Products by 5.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 10,145 shares of the construction company’s stock valued at $1,778,000 after purchasing an additional 505 shares during the period. Principal Securities Inc. increased its holdings in Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after purchasing an additional 186 shares during the period. New York State Teachers Retirement System increased its holdings in Installed Building Products by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 11,718 shares of the construction company’s stock valued at $2,054,000 after purchasing an additional 200 shares during the period. Van ECK Associates Corp increased its holdings in Installed Building Products by 21.7% during the 4th quarter. Van ECK Associates Corp now owns 26,447 shares of the construction company’s stock valued at $4,635,000 after purchasing an additional 4,711 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Installed Building Products by 25.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after purchasing an additional 83,205 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Evercore ISI downgraded 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. The Goldman Sachs Group reduced their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Performance

Shares of IBP opened at $165.23 on Monday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average price is $184.69 and its 200-day moving average price is $210.09. Installed Building Products, Inc. has a 52 week low of $163.14 and a 52 week high of $281.04. The stock has a market cap of $4.65 billion, a P/E ratio of 18.36 and a beta of 1.99.

Installed Building Products Company 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.