Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in Installed Building Products, Inc. (NYSE:IBP) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 8,570 shares of the construction company’s stock after selling 116 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $1,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Installed Building Products by 6.6% during the third quarter. Raymond James & Associates now owns 27,899 shares of the construction company’s stock worth $3,484,000 after buying an additional 1,726 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Installed Building Products by 55.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,125 shares of the construction company’s stock worth $1,015,000 after buying an additional 2,913 shares during the last quarter. Strs Ohio boosted its holdings in Installed Building Products by 40.0% in the third quarter. Strs Ohio now owns 1,400 shares of the construction company’s stock valued at $174,000 after purchasing an additional 400 shares in the last quarter. Inspire Investing LLC boosted its stake in Installed Building Products by 6.0% in the third quarter. Inspire Investing LLC now owns 2,818 shares of the construction company’s stock valued at $352,000 after acquiring an additional 159 shares in the last quarter. Finally, TD Asset Management Inc increased its position in Installed Building Products by 25.2% during the third quarter. TD Asset Management Inc now owns 19,400 shares of the construction company’s stock worth $2,423,000 after buying an additional 3,900 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.4 %

Shares of IBP traded up $1.06 during trading hours on Wednesday, hitting $237.99. The stock had a trading volume of 36,540 shares, compared to its average volume of 258,399. The company’s fifty day simple moving average is $242.89 and its 200 day simple moving average is $195.90. Installed Building Products, Inc. has a 12-month low of $103.50 and a 12-month high of $263.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The firm has a market cap of $6.77 billion, a P/E ratio of 27.53 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The company had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. During the same period in the previous year, the firm earned $2.34 earnings per share. Installed Building Products’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a $1.60 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a yield of 2.69%. The ex-dividend date was Thursday, March 14th. Installed Building Products’s dividend payout ratio is currently 16.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBP shares. JPMorgan Chase & Co. downgraded shares of Installed Building Products from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. Royal Bank of Canada raised 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 report on Friday, February 23rd. DA Davidson assumed coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Finally, Evercore ISI raised their target price on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Buying and Selling at Installed Building Products

In other news, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at $1,631,145.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the transaction, the chief operating officer now directly owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated 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 owns 7,176 shares in the company, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders have sold 6,619 shares of company stock valued at $1,606,732 over the last three months. 16.50% of the stock is owned by company insiders.

About Installed Building Products

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.