First Trust Advisors LP Cuts Holdings in Installed Building Products, Inc. $IBP

First Trust Advisors LP reduced its position in Installed Building Products, Inc. (NYSE:IBP) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,312 shares of the construction company’s stock after selling 21,436 shares during the period. First Trust Advisors LP’s holdings in Installed Building Products were worth $100,575,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBP. Bessemer Group Inc. lifted its position in Installed Building Products by 21.4% during the fourth quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock valued at $31,973,000 after purchasing an additional 21,705 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Installed Building Products by 7.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 128,911 shares of the construction company’s stock worth $33,438,000 after acquiring an additional 9,080 shares during the last quarter. SG Americas Securities LLC raised its position in Installed Building Products by 107.3% during the fourth quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company’s stock valued at $2,393,000 after purchasing an additional 4,777 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Installed Building Products by 36,067.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company’s stock valued at $14,260,000 after purchasing an additional 54,822 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Installed Building Products by 92.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,361 shares of the construction company’s stock worth $14,889,000 after purchasing an additional 29,056 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller bought 2,400 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $207.82 per share, with a total value of $498,768.00. Following the transaction, the chief financial officer owned 33,219 shares of the company’s stock, valued at approximately $6,903,572.58. This trade represents a 7.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason R. Niswonger acquired 455 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the purchase, the insider owned 17,122 shares of the company’s stock, valued at approximately $3,677,805.60. This represents a 2.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 5,036 shares of company stock worth $1,042,807 over the last quarter. 13.80% of the stock is owned by corporate insiders.

Installed Building Products Stock Up 2.1%

Shares of IBP opened at $227.55 on Friday. The firm has a fifty day moving average price of $216.83 and a 200-day moving average price of $265.00. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $6.13 billion, a P/E ratio of 24.26, a P/E/G ratio of 5.34 and a beta of 1.69. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. Equities research analysts expect that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products’s dividend payout ratio is currently 16.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on IBP shares. JPMorgan Chase & Co. decreased their price target on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Truist Financial dropped their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. Finally, The Goldman Sachs Group dropped their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $247.67.

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.