Mirabella Financial Services LLP Sells 8,705 Shares of Installed Building Products, Inc. $IBP

Mirabella Financial Services LLP lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 76.5% in the second quarter, Holdings Channel.com reports. The firm owned 2,671 shares of the construction company’s stock after selling 8,705 shares during the period. Mirabella Financial Services LLP’s holdings in Installed Building Products were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Curio Wealth LLC raised its stake in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after purchasing an additional 168 shares during the last quarter. SRH Advisors LLC grew its holdings in Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Installed Building Products by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after buying an additional 149 shares in the last quarter. Covestor Ltd raised its position in Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock valued at $96,000 after buying an additional 267 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Installed Building Products during the 2nd quarter valued at $184,000. 99.61% of the stock is owned by institutional investors.

Insider Activity

In other Installed Building Products news, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the transaction, the director owned 8,373 shares in the company, valued at $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jeffrey Hire sold 5,000 shares of Installed Building Products stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the transaction, the insider owned 32,999 shares of the company’s stock, valued at $8,303,538.37. The trade was a 13.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Loop Capital lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, November 10th. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Finally, DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and upped their target price for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $222.80.

Installed Building Products Stock Performance

Shares of IBP stock opened at $268.25 on Friday. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 4.93 and a beta of 1.90. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $280.00. The firm’s 50-day simple moving average is $255.17 and its two-hundred day simple moving average is $228.58.

Installed Building Products (NYSE:IBP) last released its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. During the same period in the prior year, the firm earned $2.85 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

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

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.