Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Installed Building Products, Inc. (NYSE:IBP)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,289 shares of the construction company’s stock after selling 2,550 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Installed Building Products were worth $2,064,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBP. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Installed Building Products by 37.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 655,219 shares of the construction company’s stock worth $81,830,000 after acquiring an additional 179,004 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Installed Building Products during the 3rd quarter worth approximately $18,661,000. Liontrust Investment Partners LLP boosted its stake in shares of Installed Building Products by 64.6% during the 3rd quarter. Liontrust Investment Partners LLP now owns 218,758 shares of the construction company’s stock worth $27,322,000 after acquiring an additional 85,892 shares in the last quarter. Guinness Asset Management LTD boosted its stake in shares of Installed Building Products by 216.7% during the 3rd quarter. Guinness Asset Management LTD now owns 106,888 shares of the construction company’s stock worth $13,346,000 after acquiring an additional 73,138 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Installed Building Products by 263.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 62,110 shares of the construction company’s stock worth $7,757,000 after acquiring an additional 45,025 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 6.5 %

IBP stock opened at $237.91 on Wednesday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 27.63 and a beta of 1.89. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $238.37 and a 200-day simple moving average of $187.21. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76.

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. On average, equities research analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a $1.60 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s dividend payout ratio is currently 16.26%.

Insider Activity at Installed Building Products

In related news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at approximately $9,324,788.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the transaction, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. In the last three months, insiders sold 6,619 shares of company stock worth $1,606,732. Corporate insiders own 16.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IBP shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. DA Davidson started coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Installed Building Products from an “overweight” rating to a “neutral” rating and upped their target price for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

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.