Cooper Investors PTY Ltd. lessened its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 22.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,461 shares of the construction company's stock after selling 5,570 shares during the period. Cooper Investors PTY Ltd. owned approximately 0.07% of Installed Building Products worth $3,509,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IBP. Cetera Investment Advisers lifted its stake in Installed Building Products by 9.0% in the fourth quarter. Cetera Investment Advisers now owns 5,341 shares of the construction company's stock valued at $936,000 after purchasing an additional 441 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Installed Building Products by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the construction company's stock valued at $2,391,000 after purchasing an additional 535 shares during the last quarter. ProShare Advisors LLC lifted its stake in Installed Building Products by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 7,208 shares of the construction company's stock valued at $1,263,000 after purchasing an additional 2,221 shares during the last quarter. State of Wyoming lifted its stake in Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after purchasing an additional 77 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Installed Building Products by 8.7% in the fourth quarter. Tidal Investments LLC now owns 2,541 shares of the construction company's stock valued at $445,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.
Insider Transactions at Installed Building Products
In related news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,655 shares of company stock worth $3,123,578 in the last three months. Insiders own 16.20% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on IBP. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price objective on the stock. in a research note on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a research note on Friday, August 8th. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $217.36.
Get Our Latest Stock Report on IBP
Installed Building Products Price Performance
Shares of Installed Building Products stock traded down $0.13 during trading on Tuesday, hitting $256.53. The stock had a trading volume of 50,630 shares, compared to its average volume of 440,312. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 28.52 and a beta of 1.76. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00. The business's 50-day moving average is $243.64 and its 200 day moving average is $196.19. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27.
Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.50. The firm had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.84 earnings per share. As a group, sell-side analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.
Installed Building Products Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.
Installed Building Products Company Profile
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Free Report)
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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