Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,996 shares of the construction company’s stock after selling 1,010 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Installed Building Products were worth $2,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IBP. Annapolis Financial Services LLC boosted its holdings in shares of Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after acquiring an additional 53 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in Installed Building Products in the fourth quarter worth about $33,000. Asset Management One Co. Ltd. bought a new stake in Installed Building Products in the fourth quarter worth about $121,000. CI Investments Inc. bought a new stake in Installed Building Products in the third quarter worth about $141,000. Finally, Strs Ohio raised its position in Installed Building Products by 40.0% in the third quarter. Strs Ohio now owns 1,400 shares of the construction company’s stock worth $174,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. DA Davidson assumed coverage on shares of Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective for the company. Evercore ISI upped their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Finally, Truist Financial upped their price objective on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Activity

In other news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Michael Thomas Miller sold 5,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at $1,675,596. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,619 shares of company stock valued at $1,606,732. 16.50% of the stock is owned by company insiders.

Installed Building Products Trading Up 0.0 %

Shares of IBP stock opened at $235.36 on Friday. Installed Building Products, Inc. has a 12 month low of $103.50 and a 12 month high of $263.76. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $239.27 and its two-hundred day moving average is $187.88. The company has a market cap of $6.69 billion, a PE ratio of 27.34 and a beta of 1.89.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. During the same quarter last year, the company posted $2.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.72%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s dividend payout ratio is currently 16.26%.

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.