Intech Investment Management LLC Decreases Stake in Installed Building Products, Inc. $IBP

Intech Investment Management LLC lessened its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,978 shares of the construction company’s stock after selling 4,358 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Installed Building Products worth $3,422,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Eminence Capital LP bought a new position in shares of Installed Building Products during the 1st quarter valued at approximately $109,114,000. Timucuan Asset Management Inc. FL bought a new stake in Installed Building Products in the first quarter worth $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Installed Building Products by 190.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock valued at $51,831,000 after purchasing an additional 198,391 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Installed Building Products by 1,897.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company’s stock valued at $32,061,000 after purchasing an additional 168,900 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Installed Building Products by 48.3% during the first quarter. Royce & Associates LP now owns 240,409 shares of the construction company’s stock valued at $41,221,000 after purchasing an additional 78,246 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IBP. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Evercore ISI set a $265.00 price target on Installed Building Products in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Installed Building Products in a research report on Wednesday, October 8th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Loop Capital cut Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $224.45.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $266.00, for a total transaction of $390,754.00. Following the completion of the sale, the director owned 6,873 shares in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Jeffrey Hire sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the sale, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This trade represents a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 9,655 shares of company stock worth $2,525,978. 16.20% of the stock is currently owned by insiders.

Installed Building Products Stock Up 1.0%

Shares of NYSE IBP opened at $247.28 on Wednesday. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00. The firm has a 50-day simple moving average of $254.28 and a two-hundred day simple moving average of $220.46. The company has a market cap of $6.71 billion, a P/E ratio of 27.51 and a beta of 1.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

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

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.37 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.93%.

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.