Thrivent Financial for Lutherans Trims Stock Position in Installed Building Products, Inc. $IBP

Thrivent Financial for Lutherans cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,222 shares of the construction company’s stock after selling 10,329 shares during the quarter. Thrivent Financial for Lutherans owned about 0.43% of Installed Building Products worth $28,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IBP. Curio Wealth LLC increased its position in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after buying an additional 168 shares during the period. SRH Advisors LLC grew its holdings in shares of Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Installed Building Products in the 3rd quarter worth approximately $42,000. Farther Finance Advisors LLC raised its position in shares of Installed Building Products by 31.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after acquiring an additional 54 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after purchasing an additional 54 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 26th. Evercore ISI set a $265.00 target price on shares of Installed Building Products in a research report on Thursday, November 6th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research report on Tuesday, January 13th. Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, November 6th. Finally, Vertical Research started coverage on shares of Installed Building Products in a report on Monday, October 20th. They set a “sell” rating for the company. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Reduce” and an average price target of $235.36.

Insider Buying and Selling at Installed Building Products

In other news, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the transaction, the insider directly owned 32,999 shares of the company’s stock, valued at $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the sale, the director directly owned 8,373 shares in the company, valued at $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by insiders.

Installed Building Products Trading Down 0.3%

NYSE:IBP opened at $287.32 on Tuesday. The company’s 50 day moving average price is $279.08 and its 200-day moving average price is $259.98. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $317.86. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 5.32 and a beta of 1.92.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The company had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.85 EPS. On average, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.