New York State Common Retirement Fund Acquires 9,463 Shares of Installed Building Products, Inc. $IBP

New York State Common Retirement Fund lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 102,339 shares of the construction company’s stock after buying an additional 9,463 shares during the period. New York State Common Retirement Fund’s holdings in Installed Building Products were worth $18,454,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock worth $458,024,000 after acquiring an additional 34,512 shares in the last quarter. Eminence Capital LP bought a new stake in Installed Building Products in the first quarter valued at $109,114,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Installed Building Products by 11.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock valued at $107,019,000 after purchasing an additional 63,315 shares during the period. Giverny Capital Inc. boosted its position in shares of Installed Building Products by 1.3% during the 2nd quarter. Giverny Capital Inc. now owns 514,459 shares of the construction company’s stock worth $92,767,000 after purchasing an additional 6,386 shares in the last quarter. Finally, Timucuan Asset Management Inc. FL acquired a new stake in shares of Installed Building Products in the 1st quarter valued at about $85,786,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.2%

Shares of NYSE:IBP opened at $262.86 on Wednesday. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 29.24 and a beta of 1.90. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. The business’s 50 day moving average is $254.12 and its 200 day moving average is $227.26.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. During the same period in the prior year, the firm posted $2.85 EPS. Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.37 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio is currently 15.93%.

Analysts Set New Price Targets

A number of brokerages recently commented on IBP. Loop Capital lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Jefferies Financial Group boosted their price objective on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. Evercore ISI set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. Finally, Weiss Ratings upgraded shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $222.80.

Insider Transactions at Installed Building Products

In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the sale, the insider owned 32,999 shares in the company, valued at approximately $8,303,538.37. This trade represents a 13.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the transaction, the director directly owned 8,373 shares in the company, valued at approximately $2,246,308.44. This represents a 19.29% decrease in their position. The SEC filing for this sale provides additional information. 16.20% of the stock is owned by company insiders.

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.