Guinness Asset Management LTD Cuts Holdings in Installed Building Products, Inc. $IBP

Guinness Asset Management LTD trimmed its stake in Installed Building Products, Inc. (NYSE:IBP) by 5.5% during the fourth quarter, Holdings Channel reports. The fund owned 40,189 shares of the construction company’s stock after selling 2,352 shares during the period. Guinness Asset Management LTD’s holdings in Installed Building Products were worth $10,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Installed Building Products by 2,200.0% in the fourth quarter. Global Retirement Partners LLC now owns 322 shares of the construction company’s stock valued at $84,000 after acquiring an additional 308 shares during the last quarter. ProShare Advisors LLC boosted its stake in Installed Building Products by 2.2% in the fourth quarter. ProShare Advisors LLC now owns 4,506 shares of the construction company’s stock valued at $1,169,000 after acquiring an additional 99 shares during the last quarter. Convergence Investment Partners LLC boosted its stake in Installed Building Products by 2.6% in the fourth quarter. Convergence Investment Partners LLC now owns 2,133 shares of the construction company’s stock valued at $553,000 after acquiring an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Installed Building Products by 36,067.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company’s stock valued at $14,260,000 after acquiring an additional 54,822 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Installed Building Products by 21.4% in the fourth quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock valued at $31,973,000 after acquiring an additional 21,705 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

Shares of IBP stock opened at $214.05 on Friday. The stock has a market capitalization of $5.77 billion, a P/E ratio of 22.82, a PEG ratio of 5.35 and a beta of 1.84. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $265.27 and its 200 day moving average is $279.08. Installed Building Products, Inc. has a 12 month low of $152.18 and a 12 month high of $349.00.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 9.62 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Installed Building Products’s dividend payout ratio is presently 16.63%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBP. Weiss Ratings cut shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Truist Financial dropped their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Vertical Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a research note on Friday, February 27th. DA Davidson dropped their target price on shares of Installed Building Products from $270.00 to $242.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, Evercore set a $226.00 target price on shares of Installed Building Products in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products has a consensus rating of “Reduce” and a consensus price target of $247.67.

Insider Activity at Installed Building Products

In other Installed Building Products news, Director Lawrence A. Hilsheimer purchased 475 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $206.22 per share, for a total transaction of $97,954.50. Following the purchase, the director owned 28,468 shares of the company’s stock, valued at $5,870,670.96. This represents a 1.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Thomas Miller purchased 2,400 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $207.82 per share, for a total transaction of $498,768.00. Following the completion of the purchase, the chief financial officer directly owned 33,219 shares in the company, valued at $6,903,572.58. This represents a 7.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 4,046 shares of company stock worth $844,194 in the last ninety days. Insiders own 13.80% of the company’s stock.

About Installed Building Products

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.