Capital Research Global Investors Reduces Stock Position in Installed Building Products, Inc. $IBP

Capital Research Global Investors cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 10.4% in the third quarter, HoldingsChannel.com reports. The fund owned 178,631 shares of the construction company’s stock after selling 20,723 shares during the period. Capital Research Global Investors’ holdings in Installed Building Products were worth $44,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in Installed Building Products during the third quarter valued at approximately $33,000. Salomon & Ludwin LLC purchased a new stake in Installed Building Products in the third quarter worth approximately $42,000. Farther Finance Advisors LLC grew its position in Installed Building Products by 31.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after purchasing an additional 54 shares during the period. Smartleaf Asset Management LLC grew its position in Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after purchasing an additional 54 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Installed Building Products during the 3rd quarter valued at $106,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on IBP. Benchmark downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada upped their price objective on Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Weiss Ratings raised Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Jefferies Financial Group raised their target price on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research report on Monday, December 15th. Finally, Wells Fargo & Company cut their price target on Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Reduce” and a consensus price target of $256.09.

Insider Activity

In other news, Director Janet E. Jackson sold 1,410 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the transaction, the director owned 5,373 shares of the company’s stock, valued at $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by company insiders.

Installed Building Products Trading Down 3.2%

Shares of Installed Building Products stock opened at $272.35 on Friday. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $349.00. The company’s fifty day simple moving average is $307.94 and its 200-day simple moving average is $276.62. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The stock has a market capitalization of $7.35 billion, a PE ratio of 27.99, a P/E/G ratio of 3.95 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The firm had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. During the same period in the prior year, the business posted $2.88 EPS. Installed Building Products’s revenue was down .4% on a year-over-year basis. As a group, equities analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $1.80 dividend. The ex-dividend date is Friday, March 13th. This represents a yield of 66.0%. Installed Building Products’s dividend payout ratio is presently 15.21%.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.