California State Teachers Retirement System Sells 442 Shares of Installed Building Products, Inc. $IBP

California State Teachers Retirement System lowered its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,515 shares of the construction company's stock after selling 442 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Installed Building Products worth $6,094,208 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Installed Building Products during the 1st quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Installed Building Products in the 2nd quarter valued at approximately $31,000. Parallel Advisors LLC increased its holdings in shares of Installed Building Products by 446.7% in the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company's stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Installed Building Products in the second quarter valued at about $52,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Installed Building Products by 29.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company's stock valued at $67,000 after buying an additional 59 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insider Activity at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director owned 5,142 shares of the company's stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBP. Evercore set a $246.00 price objective on Installed Building Products in a report on Friday, August 7th. Wells Fargo & Company lowered their price target on Installed Building Products from $245.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a report on Tuesday, August 18th. DA Davidson lifted their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $247.55.

Installed Building Products Stock Up 1.3%

NYSE IBP traded up $2.57 during trading on Tuesday, reaching $202.87. 313,340 shares of the company's stock were exchanged, compared to its average volume of 395,294. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The company has a 50 day moving average price of $232.45 and a two-hundred day moving average price of $246.04. The stock has a market cap of $5.39 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 3.83 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same period last year, the company posted $2.95 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products's dividend payout ratio is currently 16.79%.

About Installed Building Products

Installed Building Products, Inc NYSE: IBP is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.

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