Fisher Asset Management LLC Decreases Position in Installed Building Products, Inc. (NYSE:IBP)

Fisher Asset Management LLC lowered its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 24.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,002 shares of the construction company's stock after selling 3,315 shares during the quarter. Fisher Asset Management LLC's holdings in Installed Building Products were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company's stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Installed Building Products by 253.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company's stock valued at $27,000 after buying an additional 104 shares during the last quarter. Annapolis Financial Services LLC raised its holdings 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. acquired a new stake in shares of Installed Building Products during the 4th quarter worth approximately $33,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Installed Building Products during the 4th quarter worth approximately $76,000. Institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $188.00 to $216.00 and gave the stock a "sector perform" rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. cut Installed Building Products from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $199.00 to $242.00 in a report on Wednesday, February 28th. 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 report on Tuesday, April 2nd. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a report on Friday, February 16th. Finally, DA Davidson started coverage on Installed Building Products in a research note on Tuesday, March 5th. They set a "buy" rating and a $275.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Insider Activity

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction 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 sale, the chief accounting officer now owns 7,176 shares of the company's stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction 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 owns 6,679 shares in the company, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock valued at $1,606,732 over the last quarter. Company insiders own 16.50% of the company's stock.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $4.81 during mid-day trading on Thursday, reaching $236.81. 388,725 shares of the company's stock were exchanged, compared to its average volume of 265,966. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76. The firm has a 50-day moving average price of $242.78 and a two-hundred day moving average price of $196.43. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 27.50 and a beta of 1.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

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

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Installed Building Products's previous quarterly dividend of $0.33. Installed Building Products's dividend payout ratio (DPR) is currently 16.26%.

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.