Installed Building Products, Inc. $IBP Stock Position Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,696 shares of the construction company’s stock after selling 88 shares during the period. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock worth $458,024,000 after purchasing an additional 34,512 shares during the period. Eminence Capital LP acquired a new position in shares of Installed Building Products in the 1st quarter valued at about $109,114,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Installed Building Products by 11.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock valued at $107,019,000 after buying an additional 63,315 shares during the last quarter. Giverny Capital Inc. raised its stake in Installed Building Products by 0.7% during the first quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company’s stock worth $87,114,000 after acquiring an additional 3,338 shares during the period. Finally, Timucuan Asset Management Inc. FL acquired a new stake in Installed Building Products during the first quarter worth about $85,786,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 0.6%

Shares of IBP stock opened at $239.07 on Monday. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The business’s fifty day moving average is $256.66 and its 200-day moving average is $203.17. The stock has a market cap of $6.53 billion, a PE ratio of 26.59 and a beta of 1.83.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $2.84 earnings per share. Equities analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s payout ratio is currently 16.46%.

Analyst Ratings Changes

Several research firms have recently commented on IBP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a report on Wednesday, October 8th. DA Davidson downgraded Installed Building Products from a “buy” rating to a “hold” rating and upped their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Jefferies Financial Group increased their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Evercore ISI set a $240.00 price objective on shares of Installed Building Products in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $220.45.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total value of $390,754.00. Following the transaction, the director owned 6,873 shares in the company, valued at approximately $1,828,218. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock valued at $3,123,578 over the last quarter. Company insiders own 16.20% of the company’s stock.

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.