Fisher Asset Management LLC Sells 3,315 Shares of Installed Building Products, Inc. (NYSE:IBP)

Fisher Asset Management LLC decreased its position in Installed Building Products, Inc. (NYSE:IBP) by 24.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,002 shares of the construction company’s stock after selling 3,315 shares during the quarter. Fisher Asset Management LLC’s holdings in Installed Building Products were worth $1,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fuller & Thaler Asset Management Inc. grew its holdings 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 valued at $81,830,000 after purchasing an additional 179,004 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Installed Building Products by 8.3% during the third quarter. Van Berkom & Associates Inc. now owns 498,670 shares of the construction company’s stock valued at $62,279,000 after buying an additional 38,299 shares during the last quarter. Giverny Capital Inc. increased its holdings in shares of Installed Building Products by 1.1% in the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after buying an additional 4,542 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Installed Building Products by 4.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock valued at $69,058,000 after acquiring an additional 15,220 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Installed Building Products by 0.9% during the 3rd quarter. Northern Trust Corp now owns 277,868 shares of the construction company’s stock valued at $34,703,000 after acquiring an additional 2,466 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Insider Transactions at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brad A. Wheeler sold 1,119 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares of the company’s stock, valued at $1,631,145.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,619 shares of company stock valued at $1,606,732. Insiders own 16.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on IBP shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and upped their price target for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Evercore ISI raised their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial upped their price objective on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.40.

Installed Building Products Stock Down 2.1 %

NYSE:IBP opened at $231.94 on Thursday. Installed Building Products, Inc. has a 1-year low of $103.50 and a 1-year high of $263.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. The firm’s 50-day moving average price is $242.83 and its 200-day moving average price is $196.15. The company has a market capitalization of $6.60 billion, a PE ratio of 26.94 and a beta of 1.91.

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

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 2.76%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s payout ratio is 16.26%.

Installed Building Products Company Profile

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.