Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,680 shares of the construction company's stock after selling 1,951 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Installed Building Products were worth $2,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System increased its position in Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock worth $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after acquiring an additional 61 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in shares of Installed Building Products by 0.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock valued at $1,363,000 after acquiring an additional 71 shares during the period. State of Wyoming lifted its holdings in shares of Installed Building Products by 10.1% during the 4th quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after acquiring an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in Installed Building Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock worth $439,000 after purchasing an additional 79 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBP has been the topic of several research reports. Loop Capital cut their price objective on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Benchmark dropped their target price on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. Two investment 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. Based on data from MarketBeat, Installed Building Products presently has an average rating of "Hold" and a consensus target price of $212.45.

Installed Building Products Stock Up 1.1%

Shares of NYSE:IBP opened at $178.81 on Monday. The firm has a market cap of $4.94 billion, a PE ratio of 20.39 and a beta of 1.73. The company has a fifty day simple moving average of $165.84 and a 200 day simple moving average of $173.86. The company has a current ratio of 2.89, a quick ratio of 2.31 and a debt-to-equity ratio of 1.28. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last released 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). Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. The company had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. During the same period in the previous year, the firm posted $2.47 EPS. Installed Building Products's revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, June 13th. Installed Building Products's payout ratio is currently 16.88%.

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.

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