Van ECK Associates Corp Sells 20,747 Shares of Installed Building Products, Inc. $IBP

Van ECK Associates Corp cut its holdings in Installed Building Products, Inc. (NYSE:IBP) by 85.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,538 shares of the construction company’s stock after selling 20,747 shares during the quarter. Van ECK Associates Corp’s holdings in Installed Building Products were worth $813,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in Installed Building Products by 220.1% during the second quarter. Hsbc Holdings PLC now owns 89,551 shares of the construction company’s stock valued at $20,435,000 after purchasing an additional 61,576 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Installed Building Products by 9.7% during the 2nd quarter. Wellington Management Group LLP now owns 31,249 shares of the construction company’s stock valued at $7,182,000 after buying an additional 2,775 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at about $544,000. Grandeur Peak Global Advisors LLC bought a new position in shares of Installed Building Products in the 2nd quarter valued at about $2,799,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Installed Building Products in the second quarter worth about $52,000. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBP shares. DA Davidson boosted their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. The Goldman Sachs Group cut their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Evercore set a $246.00 price target on Installed Building Products in a research report on Friday, August 7th. Finally, Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $249.30.

Insider Activity

In related news, CFO Michael Miller purchased 990 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the acquisition, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Trading Up 0.7%

IBP opened at $239.33 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The stock’s 50 day moving average price is $234.01 and its 200-day moving average price is $251.37. Installed Building Products, Inc. has a one year low of $193.11 and a one year high of $349.00. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 4.46 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. On average, equities analysts forecast that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s payout ratio is currently 16.79%.

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.