Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 43.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,279 shares of the construction company's stock after selling 3,350 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Installed Building Products were worth $782,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IBP. Shaker Investments LLC OH grew its stake in Installed Building Products by 0.6% in the fourth quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company's stock worth $1,950,000 after purchasing an additional 66 shares during the period. Stratos Wealth Partners LTD. grew its stake in Installed Building Products by 2.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company's stock worth $758,000 after purchasing an additional 93 shares during the period. Captrust Financial Advisors grew its stake in Installed Building Products by 2.0% in the second quarter. Captrust Financial Advisors now owns 4,913 shares of the construction company's stock worth $689,000 after purchasing an additional 97 shares during the period. Arizona State Retirement System grew its stake in Installed Building Products by 1.5% in the third quarter. Arizona State Retirement System now owns 6,874 shares of the construction company's stock worth $858,000 after purchasing an additional 99 shares during the period. Finally, National Bank of Canada FI grew its stake in Installed Building Products by 7.4% in the third quarter. National Bank of Canada FI now owns 1,860 shares of the construction company's stock worth $229,000 after purchasing an additional 128 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBP has been the topic of several recent research reports. DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a "buy" rating and a $275.00 price target on the stock. Loop Capital raised Installed Building Products from a "hold" rating to a "buy" rating in a research note on Monday, January 8th. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research note on Friday, February 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Installed Building Products in a research note on Thursday, February 1st. Finally, Evercore ISI increased their target price on Installed Building Products from $226.00 to $272.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Installed Building Products Stock Performance

NYSE:IBP traded down $11.21 on Tuesday, hitting $226.05. The stock had a trading volume of 539,050 shares, compared to its average volume of 259,334. The business's 50-day simple moving average is $235.72 and its two-hundred day simple moving average is $182.78. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. Installed Building Products, Inc. has a 52-week low of $103.50 and a 52-week high of $263.76. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 26.28 and a beta of 1.89.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The firm had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. During the same quarter last year, the company earned $2.34 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.33. Installed Building Products's dividend payout ratio (DPR) is 16.26%.

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares of the company's stock, valued at approximately $9,324,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares of the company's stock, valued at approximately $9,324,788.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brad A. Wheeler sold 1,119 shares of Installed Building Products stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,619 shares of company stock valued at $1,606,732. 17.90% of the stock is owned by company insiders.

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.