Intech Investment Management LLC Sells 4,358 Shares of Installed Building Products, Inc. $IBP

Intech Investment Management LLC lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 18.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,978 shares of the construction company’s stock after selling 4,358 shares during the period. Intech Investment Management LLC’s holdings in Installed Building Products were worth $3,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBP. Curio Wealth LLC lifted its holdings in Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after buying an additional 168 shares during the period. SRH Advisors LLC raised its position in shares of Installed Building Products by 70.8% in the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after acquiring an additional 149 shares in the last quarter. Covestor Ltd lifted its stake in shares of Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after purchasing an additional 267 shares during the last quarter. Finally, CWM LLC boosted its position in Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company’s stock valued at $101,000 after purchasing an additional 377 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Stock Performance

Shares of IBP stock opened at $247.28 on Wednesday. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00. The stock has a market cap of $6.71 billion, a PE ratio of 27.51 and a beta of 1.81. The business has a 50-day simple moving average of $254.28 and a 200-day simple moving average of $220.46. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.85 EPS. On average, equities analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 15.93%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 32,999 shares in the company, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares in the company, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,655 shares of company stock valued at $2,525,978. Corporate insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and increased their price target for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Jefferies Financial Group raised their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada lifted their price target on shares of Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, November 6th. Finally, Loop Capital downgraded Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target on the stock. in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products has an average rating of “Reduce” and a consensus price target of $224.45.

About Installed Building Products

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.