Sei Investments Co. Sells 1,566 Shares of Installed Building Products, Inc. $IBP

Key Points

• Sei Investments Co. reduced its holdings in Installed Building Products by 9.7%, owning 14,497 shares valued at approximately $2.53 million after selling 1,566 shares.
• Insider William Jeffrey Hire sold 6,500 shares at an average price of $265.71, decreasing his ownership by 14.61% to 37,999 shares.
• The company recently reported a net margin of 8.45% and earnings per share of $2.95, exceeding expectations by $0.50, with revenue up 3.1% year-over-year.

Sei Investments Co. reduced its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,497 shares of the construction company's stock after selling 1,566 shares during the period. Sei Investments Co. owned about 0.05% of Installed Building Products worth $2,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IBP. McIlrath & Eck LLC increased its holdings 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 valued at $44,000 after purchasing an additional 61 shares during the last quarter. Xponance Inc. grew its stake in Installed Building Products by 3.9% during the 1st quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock worth $309,000 after purchasing an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Installed Building Products by 1.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Installed Building Products by 7.1% during the 1st quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock worth $194,000 after purchasing an additional 75 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Installed Building Products by 10.1% during the 4th quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Insider Activity

In other news, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jeffrey Hire sold 6,500 shares of Installed Building Products stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company's stock.

Installed Building Products Price Performance

Shares of NYSE IBP traded down $3.4010 during trading on Thursday, hitting $259.8690. The company had a trading volume of 155,138 shares, compared to its average volume of 436,642. The business's 50-day moving average is $205.23 and its 200 day moving average is $181.66. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $275.76. The company has a market cap of $7.10 billion, a P/E ratio of 28.95 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. During the same period in the previous year, the business earned $2.84 EPS. The company's revenue was up 3.1% on a year-over-year basis. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio is currently 16.46%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IBP shares. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price objective for the company. in a research note on Tuesday, August 12th. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Jefferies Financial Group raised their price objective on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Installed Building Products has an average rating of "Hold" and an average price target of $217.36.

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.