Voya Investment Management LLC Lowers Holdings in Installed Building Products, Inc. $IBP

Voya Investment Management LLC reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 26.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,170 shares of the construction company’s stock after selling 2,577 shares during the period. Voya Investment Management LLC’s holdings in Installed Building Products were worth $1,769,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBP. Curio Wealth LLC increased its position in Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after purchasing an additional 168 shares during the last quarter. SRH Advisors LLC grew its stake in shares of Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after buying an additional 85 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after buying an additional 54 shares during the period. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after buying an additional 149 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Installed Building Products in the 2nd quarter worth $144,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider William Jeffrey Hire sold 5,000 shares of Installed Building Products stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the sale, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the transaction, the director directly owned 8,373 shares of the company’s stock, valued at $2,246,308.44. This represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by company insiders.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $267.43 on Monday. The business’s 50-day simple moving average is $262.03 and its 200 day simple moving average is $240.75. The company has a market cap of $7.25 billion, a P/E ratio of 28.79, a PEG ratio of 4.91 and a beta of 1.90. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $293.53.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.49. The company had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. Installed Building Products’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.85 earnings per share. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. Installed Building Products’s dividend payout ratio is presently 15.93%.

Analyst Ratings Changes

A number of research firms have issued reports on IBP. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Wells Fargo & Company assumed coverage on Installed Building Products in a report on Monday, November 17th. They set an “equal weight” rating for the company. Weiss Ratings downgraded shares of Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 22nd. Vertical Research started coverage on shares of Installed Building Products in a report on Monday, October 20th. They issued a “sell” rating on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $226.20.

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.