Wedge Capital Management L L P NC Has $11.10 Million Position in Installed Building Products, Inc. (NYSE:IBP)

Wedge Capital Management L L P NC reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,704 shares of the construction company’s stock after selling 184 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Installed Building Products were worth $11,098,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Annapolis Financial Services LLC increased its stake in shares of Installed Building Products by 45.7% in 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. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Installed Building Products in the fourth quarter valued at $33,000. Ronald Blue Trust Inc. increased its stake in shares of Installed Building Products by 117.2% in the third quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company’s stock valued at $66,000 after buying an additional 286 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Installed Building Products in the fourth quarter valued at $121,000. Finally, CI Investments Inc. acquired a new stake in shares of Installed Building Products in the third quarter valued at $141,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the transaction, the chief operating officer now directly owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,619 shares of company stock valued at $1,606,732. Corporate insiders own 16.50% of the company’s stock.

Installed Building Products Stock Performance

IBP traded up $6.65 during trading on Tuesday, hitting $230.08. The stock had a trading volume of 16,185 shares, compared to its average volume of 256,293. The company has a 50 day moving average price of $237.70 and a 200-day moving average price of $186.39. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 25.93 and a beta of 1.89. Installed Building Products, Inc. has a one year low of $103.50 and a one year high of $263.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, research analysts predict that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s payout ratio is 16.26%.

Analyst Ratings Changes

A number of analysts have recently weighed in on IBP shares. DA Davidson initiated coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price for the company. Evercore ISI raised their price target on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Royal Bank of Canada raised their price target on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and raised their price target for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

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.