Vanguard Group Inc. Lowers Position in Installed Building Products, Inc. $IBP

Vanguard Group Inc. cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,536,065 shares of the construction company’s stock after selling 44,672 shares during the period. Vanguard Group Inc. owned 0.09% of Installed Building Products worth $657,830,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bayforest Capital Ltd boosted its position in shares of Installed Building Products by 180.0% in the 3rd quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after purchasing an additional 1,834 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Installed Building Products by 16.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company’s stock valued at $32,522,000 after acquiring an additional 18,487 shares in the last quarter. Blalock Williams LLC purchased a new stake in Installed Building Products during the 3rd quarter valued at $792,000. Watchtower Advisors LP raised its stake in Installed Building Products by 30.4% during the 3rd quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company’s stock valued at $7,961,000 after buying an additional 7,534 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Installed Building Products by 107.3% during the 4th quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company’s stock valued at $2,393,000 after buying an additional 4,777 shares during the last quarter. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBP has been the subject of several analyst reports. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $245.00 target price on shares of Installed Building Products in a research report on Tuesday, January 13th. Wells Fargo & Company dropped their price objective on shares of Installed Building Products from $340.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Royal Bank Of Canada increased their price objective on shares of Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a report on Friday, February 27th. Finally, Zacks Research downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $259.70.

Insider Activity at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total transaction of $413,567.10. Following the transaction, the director directly owned 5,373 shares of the company’s stock, valued at $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.80% of the company’s stock.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $290.48 on Monday. The firm has a market cap of $7.82 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 4.02 and a beta of 1.84. The firm’s 50 day simple moving average is $290.49 and its 200-day simple moving average is $282.96. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $349.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. The business had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.81 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $1.80 per share. This represents a yield of 63.0%. The ex-dividend date of this dividend was Friday, March 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.03%.

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.