Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Pier Capital LLC

Pier Capital LLC lessened its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 24.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,855 shares of the construction company’s stock after selling 9,567 shares during the period. Pier Capital LLC’s holdings in Installed Building Products were worth $5,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Installed Building Products by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock worth $140,974,000 after purchasing an additional 5,359 shares during the last quarter. Giverny Capital Inc. boosted its stake in Installed Building Products by 5.2% during the 4th quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock worth $83,261,000 after purchasing an additional 22,528 shares during the last quarter. Swedbank AB boosted its stake in Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Installed Building Products by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 244,399 shares of the construction company’s stock worth $44,681,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 1.3 %

Shares of NYSE IBP opened at $207.12 on Wednesday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 23.43 and a beta of 1.93. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $281.04. The business’s 50 day moving average is $224.12 and its two-hundred day moving average is $227.87.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Research analysts predict that Installed Building Products, Inc. will post 11.14 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s payout ratio is 15.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IBP. The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Evercore ISI lifted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.20.

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.