Teacher Retirement System of Texas Makes New $600,000 Investment in Installed Building Products, Inc. (NYSE:IBP)

Teacher Retirement System of Texas bought a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,498 shares of the construction company's stock, valued at approximately $600,000.

A number of other large investors also recently modified their holdings of the stock. Amundi lifted its holdings in Installed Building Products by 193.1% during the fourth quarter. Amundi now owns 12,024 shares of the construction company's stock worth $2,118,000 after acquiring an additional 7,922 shares during the period. Swiss National Bank increased its position in Installed Building Products by 0.6% in the fourth quarter. Swiss National Bank now owns 47,233 shares of the construction company's stock worth $8,278,000 after buying an additional 300 shares during the last quarter. Commonwealth Equity Services LLC increased its position in 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 worth $923,000 after buying an additional 405 shares during the last quarter. Natixis Advisors LLC increased its position in Installed Building Products by 16.9% in the fourth quarter. Natixis Advisors LLC now owns 86,803 shares of the construction company's stock worth $15,213,000 after buying an additional 12,551 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Installed Building Products by 15.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,105 shares of the construction company's stock worth $369,000 after buying an additional 282 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Benchmark reduced their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Loop Capital reduced their price target on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of "Hold" and an average target price of $212.45.

Installed Building Products Stock Down 4.0%

IBP traded down $7.71 during trading on Friday, hitting $184.06. 457,059 shares of the company's stock traded hands, compared to its average volume of 349,051. The company's 50 day simple moving average is $174.26 and its two-hundred day simple moving average is $175.24. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 20.99 and a beta of 1.74. 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 announced its earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). The company had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. Installed Building Products's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. Installed Building Products's dividend payout ratio is currently 16.88%.

About Installed Building Products

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.