State of New Jersey Common Pension Fund D Sells 1,526 Shares of Installed Building Products, Inc. (NYSE:IBP)

State of New Jersey Common Pension Fund D cut its stake in shares of Installed Building Products, Inc. (NYSE:IBPGet Rating) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,395 shares of the construction company’s stock after selling 1,526 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Installed Building Products were worth $1,976,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Installed Building Products by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after acquiring an additional 329,661 shares during the period. Invesco Ltd. boosted its stake in Installed Building Products by 0.3% in the 1st quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock worth $118,871,000 after purchasing an additional 4,335 shares during the period. State Street Corp boosted its stake in Installed Building Products by 0.3% in the 1st quarter. State Street Corp now owns 878,995 shares of the construction company’s stock worth $74,266,000 after purchasing an additional 2,594 shares during the period. Van Berkom & Associates Inc. boosted its stake in Installed Building Products by 26.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 681,497 shares of the construction company’s stock worth $56,673,000 after purchasing an additional 142,090 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 11.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 415,480 shares of the construction company’s stock worth $34,550,000 after purchasing an additional 41,050 shares during the period. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBP. StockNews.com downgraded Installed Building Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 25th. The Goldman Sachs Group dropped their price target on Installed Building Products from $108.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. Credit Suisse Group dropped their price target on Installed Building Products to $98.00 in a research note on Thursday, October 20th. Finally, Deutsche Bank Aktiengesellschaft raised Installed Building Products from a “hold” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $124.00 in a report on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $100.90.

Installed Building Products Stock Performance

NYSE:IBP opened at $98.37 on Friday. The stock’s fifty day moving average is $88.14 and its 200 day moving average is $89.10. Installed Building Products, Inc. has a fifty-two week low of $69.44 and a fifty-two week high of $115.17. The firm has a market capitalization of $2.81 billion, a PE ratio of 15.54 and a beta of 1.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.00 and a current ratio of 2.50.

Installed Building Products (NYSE:IBPGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.19. Installed Building Products had a return on equity of 55.56% and a net margin of 7.31%. The company had revenue of $719.11 million for the quarter, compared to analyst estimates of $673.95 million. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 8.46 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, December 31st. Investors of record on Thursday, December 15th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.26 annualized dividend and a yield of 1.28%. Installed Building Products’s payout ratio is presently 19.91%.

Installed Building Products Company Profile

(Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

Further Reading

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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