State of Alaska Department of Revenue Sells 350 Shares of Installed Building Products, Inc. (NYSE:IBP)

State of Alaska Department of Revenue decreased its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,867 shares of the construction company’s stock after selling 350 shares during the period. State of Alaska Department of Revenue’s holdings in Installed Building Products were worth $2,206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its holdings in shares of Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock worth $1,221,000 after buying an additional 56 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after buying an additional 61 shares during the period. Dana Investment Advisors Inc. boosted its holdings in shares of Installed Building Products by 0.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after buying an additional 71 shares during the period. State of Wyoming boosted its holdings in shares of Installed Building Products by 10.1% during the 4th quarter. State of Wyoming now owns 840 shares of the construction company’s stock worth $147,000 after buying an additional 77 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Installed Building Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock worth $439,000 after buying an additional 79 shares during the period. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Loop Capital cut their price objective on shares of Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 12th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. DA Davidson cut their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Truist Financial cut their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $212.45.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $170.74 on Monday. The company has a 50 day moving average of $164.08 and a 200-day moving average of $174.99. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $281.04. The company has a current ratio of 2.89, a quick ratio of 2.31 and a debt-to-equity ratio of 1.28. The company has a market cap of $4.71 billion, a PE ratio of 19.47 and a beta of 1.73.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The firm had revenue of $684.80 million for the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, June 13th. Installed Building Products’s dividend payout ratio is 16.88%.

Installed Building Products 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.