First Trust Advisors LP Sells 21,436 Shares of Installed Building Products, Inc. $IBP

First Trust Advisors LP lessened its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 379,312 shares of the construction company's stock after selling 21,436 shares during the quarter. First Trust Advisors LP owned approximately 1.41% of Installed Building Products worth $100,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CacheTech Inc. grew its position in shares of Installed Building Products by 1.4% in the 1st quarter. CacheTech Inc. now owns 12,209 shares of the construction company's stock worth $3,237,000 after buying an additional 169 shares during the period. Convergence Investment Partners LLC lifted its holdings in shares of Installed Building Products by 22.7% during the first quarter. Convergence Investment Partners LLC now owns 2,618 shares of the construction company's stock valued at $694,000 after purchasing an additional 485 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Installed Building Products in the 1st quarter worth approximately $30,000. Parallel Advisors LLC boosted its position 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 worth $44,000 after purchasing an additional 134 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Installed Building Products by 18.5% in the 1st quarter. KBC Group NV now owns 794 shares of the construction company's stock worth $211,000 after buying an additional 124 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lawrence A. Hilsheimer bought 475 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $206.22 per share, with a total value of $97,954.50. Following the acquisition, the director owned 28,468 shares of the company's stock, valued at approximately $5,870,670.96. This represents a 1.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason R. Niswonger acquired 455 shares of the company's stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $214.80 per share, with a total value of $97,734.00. Following the purchase, the insider owned 17,122 shares of the company's stock, valued at approximately $3,677,805.60. This trade represents a 2.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is owned by insiders.

Installed Building Products Trading Up 2.1%

Shares of IBP stock opened at $227.55 on Friday. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The stock has a market capitalization of $6.13 billion, a P/E ratio of 24.26, a P/E/G ratio of 5.34 and a beta of 1.69. The firm's 50 day moving average is $216.83 and its 200 day moving average is $265.00.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the firm earned $2.08 EPS. The business's revenue was down 3.5% on a year-over-year basis. Research analysts expect that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products's dividend payout ratio is currently 16.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on IBP shares. JPMorgan Chase & Co. lowered their price objective on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research note on Wednesday, May 13th. Truist Financial reduced their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a report on Monday, May 11th. Weiss Ratings cut Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group cut their target price on Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $247.67.

Installed Building Products Profile

Installed Building Products, Inc NYSE: IBP is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.

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