Teachers Retirement System of The State of Kentucky Sells 5,090 Shares of Installed Building Products, Inc. $IBP

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 48.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,476 shares of the construction company’s stock after selling 5,090 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Installed Building Products were worth $1,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Installed Building Products by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after purchasing an additional 328,725 shares during the period. Giverny Capital Inc. lifted its holdings in shares of Installed Building Products by 0.9% during the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after buying an additional 4,500 shares during the period. First Trust Advisors LP boosted its stake in shares of Installed Building Products by 0.3% in the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after buying an additional 1,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Installed Building Products by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after buying an additional 122,561 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Installed Building Products by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock worth $91,045,000 after acquiring an additional 5,384 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 2.4%

NYSE IBP opened at $229.80 on Thursday. The stock’s 50-day moving average price is $214.65 and its 200-day moving average price is $266.86. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. Installed Building Products, Inc. has a 52 week low of $182.88 and a 52 week high of $349.00. The company has a market capitalization of $6.19 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 5.57 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The company 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 firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, equities research analysts predict that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products’s payout ratio is currently 16.63%.

Analysts Set New Price Targets

A number of research firms recently commented on IBP. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a research report on Monday, May 11th. Truist Financial lowered their price objective 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. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group cut their target price on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $247.67.

Insider Activity

In other news, CFO Michael Thomas Miller purchased 2,400 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the completion of the transaction, the chief financial officer directly owned 33,219 shares in the company, valued at $6,903,572.58. This trade represents a 7.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence A. Hilsheimer acquired 475 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $206.22 per share, with a total value of $97,954.50. Following the completion of the purchase, the director owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. This represents a 1.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 5,036 shares of company stock valued at $1,042,807. Company 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.