Installed Building Products, Inc. (NYSE:IBP) Stock Holdings Lifted by Baillie Gifford & Co.

Baillie Gifford & Co. lifted its position in Installed Building Products, Inc. (NYSE:IBP) by 200.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,993 shares of the construction company’s stock after acquiring an additional 32,692 shares during the period. Baillie Gifford & Co.’s holdings in Installed Building Products were worth $12,676,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IBP. Channing Capital Management LLC purchased a new position in shares of Installed Building Products in the fourth quarter worth approximately $58,696,000. Norges Bank purchased a new position in shares of Installed Building Products in the fourth quarter worth approximately $37,583,000. Public Employees Retirement Association of Colorado increased its position in shares of Installed Building Products by 3,919.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after acquiring an additional 139,172 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Installed Building Products during the fourth quarter worth approximately $15,317,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Installed Building Products by 732.3% during the fourth quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock worth $15,427,000 after purchasing an additional 74,247 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason R. Niswonger sold 6,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on IBP shares. Benchmark raised their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Loop Capital raised their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price target on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Evercore ISI raised their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.30.

Installed Building Products Stock Performance

Shares of NYSE:IBP traded down $0.16 during trading on Friday, reaching $199.60. The stock had a trading volume of 182,846 shares, compared to its average volume of 315,366. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $263.76. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 22.57 and a beta of 1.93. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $215.81 and a two-hundred day simple moving average of $216.53.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The company had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. As a group, analysts anticipate that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s dividend payout ratio is 15.84%.

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.