Covestor Ltd reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) 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 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.
Check Out Our Latest Research Report on Installed Building Products
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.
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