Crossmark Global Holdings Inc. Decreases Stake in Installed Building Products, Inc. (NYSE:IBP)

Crossmark Global Holdings Inc. reduced its position in Installed Building Products, Inc. (NYSE:IBP) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,921 shares of the construction company’s stock after selling 139 shares during the period. Crossmark Global Holdings Inc.’s holdings in Installed Building Products were worth $285,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in Installed Building Products by 10.0% during the first quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after purchasing an additional 405,604 shares during the period. Vanguard Group Inc. raised its position in Installed Building Products by 13.2% during the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after purchasing an additional 329,661 shares during the period. Norges Bank purchased a new stake in Installed Building Products during the fourth quarter valued at approximately $16,658,000. Liontrust Investment Partners LLP purchased a new stake in Installed Building Products during the first quarter valued at approximately $12,549,000. Finally, Great Lakes Advisors LLC purchased a new stake in Installed Building Products during the first quarter valued at approximately $11,075,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $108.92 on Friday. The firm has a market cap of $3.09 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.45 and a beta of 1.82. The company has a current ratio of 2.92, a quick ratio of 2.40 and a debt-to-equity ratio of 1.50. Installed Building Products, Inc. has a 12 month low of $74.69 and a 12 month high of $158.18. The stock’s fifty day moving average price is $127.17 and its 200-day moving average price is $128.53.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.21. Installed Building Products had a return on equity of 53.06% and a net margin of 8.73%. The company had revenue of $692.10 million for the quarter, compared to the consensus estimate of $667.03 million. On average, equities research analysts expect that Installed Building Products, Inc. will post 9.4 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, September 14th. Installed Building Products’s payout ratio is currently 15.58%.

Analyst Ratings Changes

IBP has been the topic of a number of analyst reports. StockNews.com began coverage on Installed Building Products in a research note on Thursday, October 5th. They set a “buy” rating on the stock. The Goldman Sachs Group increased their target price on Installed Building Products from $142.00 to $158.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Seaport Res Ptn reiterated a “buy” rating on shares of Installed Building Products in a research note on Tuesday, August 1st. Truist Financial increased their target price on Installed Building Products from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Benchmark upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.50.

Insider Activity at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $155.28, for a total value of $77,640.00. Following the completion of the sale, the chief accounting officer now owns 5,443 shares of the company’s stock, valued at $845,189.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 17.30% of the stock is owned by corporate insiders.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.