Covestor Ltd Decreases Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Covestor Ltd reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 35.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 443 shares of the construction company’s stock after selling 239 shares during the quarter. Covestor Ltd’s holdings in Installed Building Products were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in shares of Installed Building Products during the fourth quarter valued at approximately $269,000. Raymond James & Associates increased its position in shares of Installed Building Products by 6.9% during the fourth quarter. Raymond James & Associates now owns 29,827 shares of the construction company’s stock valued at $5,453,000 after buying an additional 1,928 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Installed Building Products by 2.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,329 shares of the construction company’s stock worth $1,523,000 after buying an additional 204 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Installed Building Products in the fourth quarter worth about $33,000. Finally, Asset Management One Co. Ltd. bought a new stake in Installed Building Products during the 4th quarter valued at approximately $121,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

IBP traded up $4.44 during midday trading on Tuesday, hitting $251.61. 72,812 shares of the company traded hands, compared to its average volume of 294,847. The company’s 50-day moving average is $214.07 and its 200 day moving average is $220.72. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $7.16 billion, a PE ratio of 28.50 and a beta of 1.93. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $263.76.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.29. The company had revenue of $692.90 million for the quarter, compared to analysts’ expectations of $676.60 million. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. On average, research analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s dividend payout ratio is 15.84%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Benchmark raised their target price on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Loop Capital upped their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Jefferies Financial Group increased their target price on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI lifted their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products has an average rating of “Moderate Buy” and an average target price of $245.70.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the transaction, the insider now directly owns 13,159 shares in the company, valued at approximately $3,024,464.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the sale, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% 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.