Bank of New York Mellon Corp Sells 1,944 Shares of Installed Building Products, Inc. (NYSE:IBP)

Bank of New York Mellon Corp decreased its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,339 shares of the construction company's stock after selling 1,944 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of Installed Building Products worth $34,864,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IBP. Curio Wealth LLC acquired a new position in Installed Building Products during the 4th quarter valued at approximately $30,000. UMB Bank n.a. raised its stake in Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after acquiring an additional 108 shares in the last quarter. Fifth Third Bancorp raised its stake in Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after acquiring an additional 97 shares in the last quarter. McIlrath & Eck LLC raised its stake in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in Installed Building Products during the 4th quarter valued at $90,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Trading Down 4.0%

IBP traded down $7.71 during mid-day trading on Friday, reaching $184.06. The stock had a trading volume of 457,059 shares, compared to its average volume of 349,051. The stock has a market capitalization of $5.08 billion, a P/E ratio of 20.99 and a beta of 1.74. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.31 and a current ratio of 2.89. The firm's fifty day simple moving average is $174.26 and its two-hundred day simple moving average is $175.24. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $281.04.

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

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, June 13th. Installed Building Products's payout ratio is currently 16.88%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a research note on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price on the stock. Loop Capital cut their target price on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Benchmark dropped their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and an average target price of $212.45.

Installed Building Products 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.