Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Capital World Investors

Capital World Investors lowered its stake in Installed Building Products, Inc. (NYSE:IBP) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 246,500 shares of the construction company’s stock after selling 85,500 shares during the period. Capital World Investors’ holdings in Installed Building Products were worth $63,777,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Installed Building Products in the 4th quarter worth $25,000. Russell Investments Group Ltd. boosted its position in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Hexagon Capital Partners LLC increased its stake in Installed Building Products by 253.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Installed Building Products during the 1st quarter worth about $29,000. Finally, Annapolis Financial Services LLC lifted its stake in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the topic of several analyst reports. Benchmark lifted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group lowered their price objective on shares of Installed Building Products from $300.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Loop Capital increased their target price on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 10th. Royal Bank of Canada lifted their price target 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, Jefferies Financial Group upped their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.70.

Insider Activity at Installed Building Products

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

Installed Building Products Stock Performance

Shares of IBP stock opened at $265.53 on Friday. Installed Building Products, Inc. has a fifty-two week low of $106.01 and a fifty-two week high of $266.30. The stock’s 50-day moving average is $216.28 and its two-hundred day moving average is $222.45. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. The firm has a market cap of $7.55 billion, a P/E ratio of 30.04 and a beta of 1.93.

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

Installed Building Products Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.53%. Installed Building Products’s dividend payout ratio is currently 15.84%.

Installed Building Products 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.