Principal Financial Group Inc. Has $22.32 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Principal Financial Group Inc. raised its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,190 shares of the construction company's stock after buying an additional 3,318 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Installed Building Products worth $22,322,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in shares of Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock valued at $85,124,000 after purchasing an additional 199,657 shares during the period. GAMMA Investing LLC increased its holdings in shares of Installed Building Products by 35,416.8% in the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock valued at $289,870,000 after purchasing an additional 168,584 shares during the period. Norges Bank acquired a new position in shares of Installed Building Products in the 4th quarter valued at about $28,509,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Installed Building Products by 87.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock valued at $59,249,000 after purchasing an additional 158,173 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Installed Building Products in the 4th quarter valued at about $23,776,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Down 0.9%

NYSE:IBP traded down $1.81 during mid-day trading on Friday, reaching $200.53. The stock had a trading volume of 265,743 shares, compared to its average volume of 350,290. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.89 and a quick ratio of 2.31. The business's 50 day moving average is $171.57 and its 200 day moving average is $174.66. The stock has a market cap of $5.54 billion, a P/E ratio of 22.87 and a beta of 1.74.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter last year, the business earned $2.47 EPS. The company's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 0.74%. Installed Building Products's dividend payout ratio (DPR) is presently 16.88%.

Analysts Set New Price Targets

IBP has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 target price on the stock. Loop Capital dropped their price objective on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Benchmark dropped their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $212.45.

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.