6,650 Shares in Installed Building Products, Inc. $IBP Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,650 shares of the construction company’s stock, valued at approximately $1,528,000.

Several other large investors have also recently added to or reduced their stakes in IBP. MGO One Seven LLC grew its holdings in shares of Installed Building Products by 3.1% during the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after purchasing an additional 34 shares in the last quarter. Abel Hall LLC raised its stake in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock valued at $342,000 after purchasing an additional 35 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Installed Building Products by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock valued at $472,000 after purchasing an additional 35 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Installed Building Products by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock worth $860,000 after purchasing an additional 35 shares during the period. Finally, Petros Family Wealth LLC boosted its stake in Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock worth $240,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBP shares. Wells Fargo & Company lowered their price target on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. DA Davidson lifted their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Evercore set a $246.00 price target on shares of Installed Building Products in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $248.30.

Installed Building Products Price Performance

Shares of IBP stock opened at $204.89 on Friday. The stock’s fifty day simple moving average is $232.95 and its 200 day simple moving average is $247.39. Installed Building Products, Inc. has a one year low of $193.11 and a one year high of $349.00. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 3.78 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41.

Installed Building Products (NYSE:IBP) last issued 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. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same period last year, the business earned $2.95 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. Installed Building Products’s payout ratio is 16.79%.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.80% of the stock is currently owned by company insiders.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.