New York State Teachers Retirement System Acquires 100 Shares of Installed Building Products, Inc. $IBP

New York State Teachers Retirement System increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 0.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,818 shares of the construction company’s stock after buying an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Installed Building Products were worth $2,131,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SRH Advisors LLC raised its position in Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares during the period. Advisors Asset Management Inc. raised its holdings 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 purchasing an additional 149 shares during the period. Covestor Ltd lifted its stake in Installed Building Products by 92.1% in the first quarter. Covestor Ltd now owns 557 shares of the construction company’s stock valued at $96,000 after purchasing an additional 267 shares during the last quarter. CWM LLC grew its holdings in Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company’s stock valued at $101,000 after purchasing an additional 377 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Installed Building Products during the first quarter valued at $127,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IBP shares. Zelman & Associates raised Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Jefferies Financial Group boosted their price objective on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Loop Capital downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Finally, Royal Bank Of Canada restated an “underperform” rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $220.45.

Installed Building Products Trading Up 2.4%

Shares of IBP opened at $266.59 on Wednesday. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The stock has a market cap of $7.29 billion, a PE ratio of 29.65 and a beta of 1.83. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The business’s 50-day moving average price is $259.11 and its 200-day moving average price is $207.06.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. During the same quarter in the prior year, the firm posted $2.84 EPS. Installed Building Products’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is 16.46%.

Insiders Place Their Bets

In related news, insider William Jeffrey Hire sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the completion of the sale, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock worth $3,123,578 over the last three months. Company insiders own 16.20% of the company’s stock.

Installed Building Products Company 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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.