Bank of New York Mellon Corp Cuts Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Bank of New York Mellon Corp cut its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,339 shares of the construction company's stock after selling 1,944 shares during the period. Bank of New York Mellon Corp owned 0.74% of Installed Building Products worth $34,864,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC increased its holdings in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after buying an additional 61 shares during the last quarter. State of Wyoming increased its holdings in Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after buying an additional 77 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Installed Building Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after buying an additional 79 shares during the last quarter. Blue Trust Inc. increased its holdings in Installed Building Products by 7.4% during the first quarter. Blue Trust Inc. now owns 1,212 shares of the construction company's stock valued at $208,000 after buying an additional 84 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after buying an additional 97 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

IBP traded up $0.40 during trading on Wednesday, reaching $191.05. 423,159 shares of the company's stock were exchanged, compared to its average volume of 350,413. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $281.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.89 and a quick ratio of 2.31. The stock has a market capitalization of $5.27 billion, a P/E ratio of 21.78 and a beta of 1.74. The company's fifty day simple moving average is $172.66 and its 200-day simple moving average is $174.95.

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

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, June 13th. Installed Building Products's dividend payout ratio (DPR) is 16.88%.

Analysts Set New Price Targets

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