Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,751 shares of the construction company’s stock after selling 123 shares during the period. Arizona State Retirement System’s holdings in Installed Building Products were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in Installed Building Products during the 4th quarter worth approximately $33,000. Covestor Ltd increased its position in Installed Building Products by 112.4% during the 1st quarter. Covestor Ltd now owns 582 shares of the construction company’s stock worth $49,000 after purchasing an additional 308 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in Installed Building Products during the 4th quarter worth approximately $49,000. Ronald Blue Trust Inc. increased its position in Installed Building Products by 117.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company’s stock worth $66,000 after purchasing an additional 286 shares during the period. Finally, State of Wyoming increased its position in Installed Building Products by 24.4% during the 4th quarter. State of Wyoming now owns 913 shares of the construction company’s stock worth $78,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at approximately $9,324,788.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock worth $1,606,732 in the last ninety days. Insiders own 17.30% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of several research analyst reports. Truist Financial boosted their price target on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Loop Capital raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Royal Bank of Canada upped their target price on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Installed Building Products Trading Down 0.9 %

Shares of Installed Building Products stock opened at $240.76 on Monday. Installed Building Products, Inc. has a fifty-two week low of $103.50 and a fifty-two week high of $263.76. The firm has a market cap of $6.83 billion, a PE ratio of 27.96, a P/E/G ratio of 1.48 and a beta of 1.89. The business’s fifty day moving average is $234.86 and its two-hundred day moving average is $181.98. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The business had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. Analysts anticipate that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. Installed Building Products’s dividend payout ratio is presently 16.26%.

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.