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

Arizona State Retirement System trimmed its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,862 shares of the construction company’s stock after selling 104 shares during the period. Arizona State Retirement System’s holdings in Installed Building Products were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Installed Building Products by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the period. FIL Ltd increased its position in Installed Building Products by 14.0% during the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after purchasing an additional 127,215 shares during the period. Geode Capital Management LLC increased its position in Installed Building Products by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after purchasing an additional 10,553 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Installed Building Products by 28.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company’s stock worth $90,905,000 after purchasing an additional 117,810 shares during the period. Finally, Giverny Capital Inc. grew its holdings in shares of Installed Building Products by 3.6% in the 4th quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company’s stock worth $88,455,000 after acquiring an additional 17,620 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

NYSE IBP opened at $184.06 on Friday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 20.99 and a beta of 1.74. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $281.04. The business’s fifty day moving average is $174.26 and its two-hundred day moving average is $175.24. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.31 and a current ratio of 2.89.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The company had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. During the same period in the prior year, the company posted $2.47 EPS. Installed Building Products’s quarterly revenue was down 1.2% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, June 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.88%.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research reports. Loop Capital lowered their price target on Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $212.45.

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.