State of Alaska Department of Revenue Decreases Holdings in Installed Building Products, Inc. $IBP

State of Alaska Department of Revenue reduced its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,481 shares of the construction company’s stock after selling 2,089 shares during the quarter. State of Alaska Department of Revenue’s holdings in Installed Building Products were worth $2,831,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming boosted its holdings in Installed Building Products by 5.1% in the second quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock valued at $199,000 after purchasing an additional 53 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Installed Building Products by 31.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after buying an additional 54 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after buying an additional 54 shares during the last quarter. Osaic Holdings Inc. raised its stake in Installed Building Products by 0.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,524 shares of the construction company’s stock worth $1,357,000 after acquiring an additional 57 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in Installed Building Products by 1.3% in the second quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company’s stock valued at $874,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IBP. Jefferies Financial Group raised their price objective on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a report on Monday, December 15th. Wells Fargo & Company assumed coverage on Installed Building Products in a research note on Monday, November 17th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 target price on shares of Installed Building Products in a research report on Tuesday. Wall Street Zen raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $227.90.

Insider Activity at Installed Building Products

In other news, Director Michael H. Thomas sold 2,001 shares of the 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 completion of the transaction, the director directly owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Jeffrey Hire sold 5,000 shares of Installed Building Products stock in a transaction that occurred on 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.20% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $311.08 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28. The business has a 50 day simple moving average of $266.01 and a 200-day simple moving average of $249.56. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $312.35. The stock has a market capitalization of $8.44 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 5.59 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same period in the previous year, the company posted $2.85 EPS. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict 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 was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. Installed Building Products’s payout ratio is currently 15.93%.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.