Zions Bancorporation N.A. Sells 460 Shares of Installed Building Products, Inc. (NYSE:IBP)

Zions Bancorporation N.A. decreased its stake in Installed Building Products, Inc. (NYSE:IBP) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,836 shares of the construction company’s stock after selling 460 shares during the period. Zions Bancorporation N.A.’s holdings in Installed Building Products were worth $2,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. Russell Investments Group Ltd. lifted its stake in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. NBC Securities Inc. bought a new position in Installed Building Products in the fourth quarter valued at about $25,000. Allspring Global Investments Holdings LLC bought a new position in Installed Building Products in the first quarter valued at about $29,000. Quarry LP boosted its stake in shares of Installed Building Products by 37.5% during the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after purchasing an additional 57 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of Installed Building Products by 1,393.8% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock worth $44,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 2.4 %

Shares of NYSE:IBP opened at $210.81 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The business’s 50-day moving average is $224.62 and its 200-day moving average is $227.41. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.85 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm 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%. Equities research analysts predict that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio is presently 15.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBP shares. The Goldman Sachs Group raised their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial boosted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their target price on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Stephens reissued an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. 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 a consensus target price of $255.20.

Installed Building Products Company 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.