Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Installed Building Products, Inc. (NYSE:IBP) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,289 shares of the construction company’s stock after selling 2,550 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Installed Building Products were worth $2,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBP. Fuller & Thaler Asset Management Inc. lifted its position in shares of Installed Building Products by 37.6% in 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 acquiring an additional 179,004 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Installed Building Products in the third quarter valued at approximately $18,661,000. Liontrust Investment Partners LLP lifted its position in shares of Installed Building Products by 64.6% in the third quarter. Liontrust Investment Partners LLP now owns 218,758 shares of the construction company’s stock valued at $27,322,000 after acquiring an additional 85,892 shares in the last quarter. Guinness Asset Management LTD lifted its position in shares of Installed Building Products by 216.7% in the third quarter. Guinness Asset Management LTD now owns 106,888 shares of the construction company’s stock valued at $13,346,000 after acquiring an additional 73,138 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Installed Building Products by 263.5% in the third quarter. Qube Research & Technologies Ltd now owns 62,110 shares of the construction company’s stock valued at $7,757,000 after acquiring an additional 45,025 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Loop Capital raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, January 8th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and increased their price target for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Truist Financial increased their price target on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Finally, DA Davidson assumed coverage on Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target for the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insider Transactions at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock worth $1,606,732 over the last ninety days. Company insiders own 16.50% of the company’s stock.

Installed Building Products Price Performance

IBP stock opened at $237.91 on Wednesday. The business has a fifty day moving average of $238.37 and a two-hundred day moving average of $187.21. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 27.63 and a beta of 1.89. Installed Building Products, Inc. has a 52-week low of $103.50 and a 52-week high of $263.76.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The business had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. During the same period last year, the business posted $2.34 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given 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 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

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.