Vanguard Group Inc. Decreases Position in Installed Building Products, Inc. (NYSE:IBP)

Vanguard Group Inc. decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,618,664 shares of the construction company’s stock after selling 79,595 shares during the quarter. Vanguard Group Inc. owned approximately 9.13% of Installed Building Products worth $327,045,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Installed Building Products by 10.0% in the first quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock worth $507,990,000 after acquiring an additional 405,604 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Installed Building Products by 0.3% in the first quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock worth $118,871,000 after acquiring an additional 4,335 shares in the last quarter. State Street Corp raised its stake in Installed Building Products by 3.7% during the second quarter. State Street Corp now owns 959,000 shares of the construction company’s stock valued at $134,413,000 after buying an additional 34,570 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Installed Building Products by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 753,871 shares of the construction company’s stock valued at $85,959,000 after buying an additional 1,977 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Installed Building Products by 37.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 655,219 shares of the construction company’s stock valued at $81,830,000 after buying an additional 179,004 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the topic of several research reports. Royal Bank of Canada upped their price objective on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Evercore ISI upped their price objective on Installed Building Products from $165.00 to $226.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Moderate Buy” and an average target price of $203.80.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at approximately $9,324,788.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,619 shares of company stock valued at $1,606,732. 17.90% of the stock is owned by corporate insiders.

Installed Building Products Stock Performance

Shares of IBP stock opened at $255.38 on Thursday. The business has a 50 day simple moving average of $220.61 and a 200 day simple moving average of $171.15. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.57 and a beta of 1.89. Installed Building Products, Inc. has a 12-month low of $103.50 and a 12-month high of $260.89.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $2.34 EPS. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 11.25 EPS for the current year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 31st. Shareholders of record on Friday, March 15th will be paid a dividend of $1.60 per share. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Installed Building Products 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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.