Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,251 shares of the construction company’s stock after selling 1,419 shares during the period. Public Sector Pension Investment Board owned approximately 0.15% of Installed Building Products worth $4,704,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. New England Research & Management Inc. purchased a new stake in Installed Building Products in the 1st quarter worth approximately $220,000. Tower Research Capital LLC TRC boosted its holdings in shares of Installed Building Products by 25.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 958 shares of the construction company’s stock valued at $109,000 after purchasing an additional 197 shares during the last quarter. Adams Wealth Management acquired a new position in shares of Installed Building Products in the 4th quarter valued at $814,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Installed Building Products in the 1st quarter valued at $857,000. Finally, Premier Fund Managers Ltd boosted its holdings in shares of Installed Building Products by 4,829.8% in the 4th quarter. Premier Fund Managers Ltd now owns 82,968 shares of the construction company’s stock valued at $7,230,000 after purchasing an additional 81,285 shares during the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Installed Building Products

In other news, CEO Jeffrey W. Edwards sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $119.61, for a total value of $5,980,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,747,819 shares of the company’s stock, valued at approximately $328,666,630.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $155.28, for a total transaction of $77,640.00. Following the completion of the sale, the chief accounting officer now directly owns 5,443 shares of the company’s stock, valued at $845,189.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey W. Edwards sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $119.61, for a total transaction of $5,980,500.00. Following the sale, the chief executive officer now directly owns 2,747,819 shares of the company’s stock, valued at $328,666,630.59. The disclosure for this sale can be found here. Company insiders own 17.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBP. Truist Financial lifted their price target on shares of Installed Building Products from $140.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Loop Capital lifted their target price on shares of Installed Building Products from $120.00 to $150.00 in a report on Friday, June 30th. Stephens lifted their target price on shares of Installed Building Products from $140.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. StockNews.com initiated coverage on shares of Installed Building Products in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Seaport Res Ptn restated a “buy” rating on shares of Installed Building Products in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $146.25.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $146.30 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.92 and a debt-to-equity ratio of 1.50. Installed Building Products, Inc. has a fifty-two week low of $74.69 and a fifty-two week high of $158.18. The firm has a 50-day simple moving average of $145.31 and a 200 day simple moving average of $125.37. The company has a market cap of $4.16 billion, a PE ratio of 17.27, a P/E/G ratio of 2.02 and a beta of 1.81.

Installed Building Products (NYSE:IBP) last posted its earnings results on Wednesday, August 2nd. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.21. The firm had revenue of $692.10 million during the quarter, compared to analyst estimates of $667.03 million. Installed Building Products had a net margin of 8.73% and a return on equity of 53.06%. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 9.09 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, September 14th. Installed Building Products’s dividend payout ratio is currently 15.58%.

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