Baillie Gifford & Co. Sells 11,340 Shares of Installed Building Products, Inc. (NYSE:IBP)

Key Points

• Baillie Gifford & Co. reduced its stake in Installed Building Products by 23.7%, now holding approximately 0.13% of the company valued at $6.26 million after selling 11,340 shares.
• Installed Building Products reported $2.08 earnings per share (EPS) in its latest quarterly earnings, falling short of analysts' estimates by $0.15, with revenue down 1.2% year-over-year.
• Analysts have a mixed outlook on Installed Building Products, with two analysts rating the stock as a sell, seven as a hold, and four as a buy, leading to a consensus rating of "Hold".

Baillie Gifford & Co. lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 23.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,482 shares of the construction company's stock after selling 11,340 shares during the period. Baillie Gifford & Co. owned approximately 0.13% of Installed Building Products worth $6,255,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in shares of Installed Building Products by 7.0% in the first quarter. Cetera Investment Advisers now owns 5,717 shares of the construction company's stock valued at $980,000 after buying an additional 376 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Installed Building Products by 48.3% in the first quarter. Royce & Associates LP now owns 240,409 shares of the construction company's stock valued at $41,221,000 after buying an additional 78,246 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Installed Building Products by 64.3% in the first quarter. Allianz Asset Management GmbH now owns 9,532 shares of the construction company's stock valued at $1,634,000 after buying an additional 3,730 shares during the last quarter. Gallacher Capital Management LLC bought a new position in shares of Installed Building Products in the first quarter valued at about $253,000. Finally, Jacobson & Schmitt Advisors LLC raised its holdings in shares of Installed Building Products by 5.8% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 53,450 shares of the construction company's stock valued at $9,164,000 after buying an additional 2,922 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Down 0.1%

Shares of NYSE:IBP traded down $0.19 during trading on Wednesday, hitting $206.30. 114,595 shares of the company's stock traded hands, compared to its average volume of 405,793. The company has a 50-day moving average price of $179.47 and a 200-day moving average price of $176.56. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $281.04. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 23.52 and a beta of 1.74. The company has a current ratio of 2.89, a quick ratio of 2.31 and a debt-to-equity ratio of 1.28.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The firm had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. During the same period in the prior year, the business posted $2.47 EPS. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, June 13th. Installed Building Products's payout ratio is presently 16.88%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. Loop Capital decreased their price target on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Benchmark decreased their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $212.45.

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.