First Eagle Investment Management LLC Cuts Stake in Installed Building Products, Inc. $IBP

First Eagle Investment Management LLC cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,078 shares of the construction company’s stock after selling 1,950 shares during the quarter. First Eagle Investment Management LLC’s holdings in Installed Building Products were worth $12,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Curio Wealth LLC increased its stake in Installed Building Products by 16,800.0% during the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after purchasing an additional 168 shares in the last quarter. SRH Advisors LLC lifted its stake in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Installed Building Products by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock valued at $95,000 after buying an additional 149 shares during the last quarter. Covestor Ltd grew its holdings in shares of Installed Building Products by 92.1% during the first quarter. Covestor Ltd now owns 557 shares of the construction company’s stock valued at $96,000 after buying an additional 267 shares during the last quarter. Finally, CWM LLC increased its position in shares of Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company’s stock valued at $101,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Buying and Selling at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the transaction, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IBP shares. Royal Bank Of Canada upped their price objective on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Loop Capital cut Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price objective on the stock. in a research report on Friday, August 8th. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and boosted their target price for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Installed Building Products in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $224.45.

Installed Building Products Stock Up 2.1%

Installed Building Products stock opened at $257.32 on Friday. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $280.00. The stock has a fifty day moving average of $256.12 and a 200 day moving average of $215.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The stock has a market cap of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81.

Installed Building Products (NYSE:IBP) last announced its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.85 earnings per share. As a group, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.46%.

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.