Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 732.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,386 shares of the construction company's stock after buying an additional 74,247 shares during the quarter. New York State Common Retirement Fund owned about 0.29% of Installed Building Products worth $15,427,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Annapolis Financial Services LLC raised its position in Installed Building Products by 45.7% in the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company's stock valued at $31,000 after buying an additional 53 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Installed Building Products during the fourth quarter worth $33,000. Asset Management One Co. Ltd. purchased a new stake in shares of Installed Building Products during the 4th quarter valued at $121,000. CI Investments Inc. bought a new stake in shares of Installed Building Products during the 3rd quarter worth $141,000. Finally, Strs Ohio boosted its holdings in shares of Installed Building Products by 40.0% in the 3rd quarter. Strs Ohio now owns 1,400 shares of the construction company's stock worth $174,000 after buying an additional 400 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Price Performance

Shares of IBP traded down $7.66 during midday trading on Tuesday, hitting $235.73. 207,129 shares of the company traded hands, compared to its average volume of 257,122. Installed Building Products, Inc. has a one year low of $103.50 and a one year high of $263.76. The firm has a market cap of $6.70 billion, a P/E ratio of 28.26 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. The stock has a 50-day moving average of $240.67 and a 200-day moving average of $190.52.

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

Installed Building Products Increases Dividend

The firm also recently disclosed 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 is a positive change from Installed Building Products's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.40 annualized dividend and a yield of 2.71%. Installed Building Products's dividend payout ratio (DPR) is currently 16.26%.

Insider Buying and Selling

In other news, COO Brad A. Wheeler sold 1,119 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares of the company's stock, valued at $1,631,145.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Brad A. Wheeler sold 1,119 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at $1,675,596. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock worth $1,606,732 over the last ninety days. 16.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBP. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a research report on Friday, February 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Installed Building Products in a report on Thursday, February 1st. Royal Bank of Canada boosted their target price on Installed Building Products from $188.00 to $216.00 and gave the company a "sector perform" rating in a research note on Friday, February 23rd. Evercore ISI increased their price target 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. Finally, Truist Financial lifted their price objective on Installed Building Products from $200.00 to $235.00 and gave the stock a "hold" rating in a report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.40.

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.