First Eagle Investment Management LLC Sells 1,950 Shares of Installed Building Products, Inc. $IBP

First Eagle Investment Management LLC lowered its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 68,078 shares of the construction company’s stock after selling 1,950 shares during the quarter. First Eagle Investment Management LLC owned 0.25% of Installed Building Products worth $12,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IBP. Xponance Inc. increased its stake in shares of Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company’s stock worth $309,000 after buying an additional 67 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Installed Building Products by 1.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock worth $716,000 after acquiring an additional 68 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Installed Building Products by 2.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company’s stock worth $643,000 after acquiring an additional 70 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Installed Building Products by 7.1% in the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company’s stock valued at $194,000 after acquiring an additional 75 shares during the period. Finally, SRH Advisors LLC raised its stake in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 2.1%

IBP opened at $257.32 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $280.00. The stock has a market cap of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81. The business has a 50 day moving average of $256.12 and a 200-day moving average of $215.48.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.49. The company had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.85 earnings per share. Equities research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio is currently 16.46%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBP shares. Danske cut Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price on the stock. in a research note on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Jefferies Financial Group raised their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Installed Building Products currently has an average rating of “Reduce” and a consensus price target of $224.45.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares in the company, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the transaction, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at $1,755,095.94. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,655 shares of company stock valued at $3,123,578 in the last quarter. 16.20% of the stock is owned by 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.