Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 37.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,004 shares of the construction company’s stock after selling 34,523 shares during the quarter. Bank of America Corp DE owned about 0.20% of Installed Building Products worth $9,990,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IBP. Barclays PLC boosted its holdings in shares of Installed Building Products by 61.9% during the third quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock worth $24,063,000 after purchasing an additional 37,347 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Installed Building Products by 14.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock valued at $528,000 after acquiring an additional 376 shares during the last quarter. Inspire Investing LLC boosted its holdings in Installed Building Products by 30.4% in the fourth quarter. Inspire Investing LLC now owns 2,490 shares of the construction company’s stock valued at $436,000 after acquiring an additional 580 shares during the last quarter. Blue Trust Inc. boosted its holdings in Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock valued at $220,000 after acquiring an additional 92 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Installed Building Products by 293.5% in the fourth quarter. KBC Group NV now owns 2,562 shares of the construction company’s stock valued at $449,000 after acquiring an additional 1,911 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 0.9%

Shares of NYSE IBP opened at $156.73 on Friday. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $281.04. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 17.41 and a beta of 1.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock’s 50-day simple moving average is $166.59 and its 200-day simple moving average is $182.69.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The business had revenue of $684.80 million for the quarter, compared to analysts’ expectations of $681.34 million. During the same period in the previous year, the firm posted $2.47 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 13th. Installed Building Products’s dividend payout ratio is currently 16.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBP shares. Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 target price on the stock. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Benchmark cut their price objective on Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Truist Financial cut their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Finally, Loop Capital cut their price objective on Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $212.45.

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.