Bank of New York Mellon Corp Decreases Stock Holdings in Installed Building Products, Inc. $IBP

Bank of New York Mellon Corp cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,873 shares of the construction company’s stock after selling 4,000 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Installed Building Products worth $41,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after acquiring an additional 328,725 shares during the last quarter. Giverny Capital Inc. boosted its holdings in Installed Building Products by 0.9% in the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after purchasing an additional 4,500 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Installed Building Products by 0.3% in the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock valued at $103,950,000 after buying an additional 1,238 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Installed Building Products by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after buying an additional 122,561 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Installed Building Products by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock worth $91,045,000 after buying an additional 5,384 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBP shares. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a report on Monday, May 11th. Evercore set a $226.00 price objective on Installed Building Products in a research report on Friday, May 8th. DA Davidson reaffirmed a “neutral” rating and issued a $242.00 target price on shares of Installed Building Products in a research report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $247.67.

Installed Building Products Stock Performance

Shares of IBP stock opened at $227.55 on Friday. The stock’s 50-day moving average is $216.83 and its two-hundred day moving average is $265.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 5.34 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. During the same period in the previous year, the company posted $2.08 earnings per share. Installed Building Products’s revenue was down 3.5% compared to the same quarter last year. Analysts predict that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products’s dividend payout ratio is presently 16.63%.

Insider Buying and Selling at Installed Building Products

In related news, insider Jason R. Niswonger acquired 455 shares of Installed Building Products stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $214.80 per share, with a total value of $97,734.00. Following the purchase, the insider directly owned 17,122 shares in the company, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Thomas Miller purchased 990 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 5,036 shares of company stock worth $1,042,807 over the last three months. 13.80% of the stock is currently owned by corporate insiders.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.