Royal Bank of Canada Sells 9,511 Shares of Installed Building Products, Inc. (NYSE:IBP)

Royal Bank of Canada trimmed its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,634 shares of the construction company's stock after selling 9,511 shares during the quarter. Royal Bank of Canada owned 0.54% of Installed Building Products worth $26,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Installed Building Products by 8.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company's stock valued at $923,000 after purchasing an additional 405 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Installed Building Products by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company's stock valued at $22,234,000 after acquiring an additional 4,467 shares during the period. Smartleaf Asset Management LLC increased its stake in Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock valued at $64,000 after purchasing an additional 272 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock worth $26,949,000 after purchasing an additional 81,455 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of Installed Building Products by 28.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company's stock worth $3,633,000 after purchasing an additional 4,568 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. DA Davidson decreased their target price on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Loop Capital decreased their price target on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Truist Financial lowered their target price on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Two 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's stock. According to data from MarketBeat, Installed Building Products presently has an average rating of "Hold" and a consensus price target of $212.45.

Installed Building Products Price Performance

IBP traded up $6.44 on Tuesday, hitting $162.98. 719,028 shares of the stock were exchanged, compared to its average volume of 339,914. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 18.11 and a beta of 1.85. The business has a 50-day moving average of $166.25 and a two-hundred day moving average of $181.76. 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 posted its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The company had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. During the same quarter in the previous year, the business posted $2.47 earnings per share. The company's revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.91%. Installed Building Products's dividend payout ratio (DPR) is presently 16.88%.

Installed Building Products Company 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.