Maryland State Retirement & Pension System Lowers Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System decreased its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,784 shares of the construction company's stock after selling 1,024 shares during the quarter. Maryland State Retirement & Pension System's holdings in Installed Building Products were worth $1,163,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in Installed Building Products by 142.1% during the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp increased its holdings in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after buying an additional 97 shares during the last quarter. McIlrath & Eck LLC increased its holdings in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after buying an additional 61 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Installed Building Products during the fourth quarter worth about $90,000. Finally, CWM LLC increased its holdings in Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company's stock worth $101,000 after buying an additional 377 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IBP shares. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Danske lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price for the company. in a research report on Tuesday. Jefferies Financial Group increased their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday. Loop Capital lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and set a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Price Performance

Shares of Installed Building Products stock traded up $0.44 on Friday, reaching $267.21. The stock had a trading volume of 78,697 shares, compared to its average volume of 435,872. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $275.76. The company has a market cap of $7.30 billion, a P/E ratio of 29.72 and a beta of 1.73. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The business's 50 day moving average is $197.50 and its two-hundred day moving average is $179.83.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. During the same period in the prior year, the firm posted $2.84 earnings per share. The company's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Insider Activity

In other news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 16.20% of the company's stock.

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.