First Eagle Investment Management LLC Acquires 11,060 Shares of Installed Building Products, Inc. (NYSE:IBP)

First Eagle Investment Management LLC grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 30.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,248 shares of the construction company’s stock after purchasing an additional 11,060 shares during the period. First Eagle Investment Management LLC owned approximately 0.17% of Installed Building Products worth $12,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Installed Building Products in the 4th quarter valued at $25,000. Russell Investments Group Ltd. grew its position in Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Installed Building Products in the first quarter valued at about $29,000. Finally, Annapolis Financial Services LLC boosted its position in shares of Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Transactions at Installed Building Products

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

Installed Building Products Stock Performance

NYSE:IBP traded down $2.62 during trading hours on Friday, reaching $241.03. The stock had a trading volume of 110,367 shares, compared to its average volume of 295,925. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.67 and a current ratio of 3.18. The stock has a 50 day simple moving average of $213.41 and a 200 day simple moving average of $219.03. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $263.76. The stock has a market cap of $6.86 billion, a P/E ratio of 27.48 and a beta of 1.93.

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

Installed Building Products Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s payout ratio is currently 15.84%.

Analyst Ratings Changes

Several brokerages have issued reports on IBP. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday. Evercore ISI raised their target price on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. dropped their target price on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Royal Bank of Canada raised their target price on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a report on Friday, May 10th. Finally, Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.70.

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.