New York State Teachers Retirement System Increases Holdings in Installed Building Products, Inc. $IBP

New York State Teachers Retirement System increased its position in Installed Building Products, Inc. (NYSE:IBP) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,818 shares of the construction company’s stock after buying an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Installed Building Products were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of IBP. SRH Advisors LLC raised its stake in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring 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 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock valued at $95,000 after purchasing an additional 149 shares during the last quarter. Covestor Ltd raised its position in Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after purchasing an additional 267 shares during the period. CWM LLC lifted its stake in Installed Building Products by 178.7% in the first quarter. CWM LLC now owns 588 shares of the construction company’s stock worth $101,000 after purchasing an additional 377 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Installed Building Products during the first quarter valued at about $127,000. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Price Performance

Shares of IBP stock opened at $266.59 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $280.00. The firm has a market cap of $7.29 billion, a P/E ratio of 29.65 and a beta of 1.83. The business’s 50 day moving average price is $259.11 and its 200-day moving average price is $207.06.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.84 earnings per share. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s payout ratio is presently 16.46%.

Analyst Upgrades and Downgrades

IBP has been the topic of several analyst reports. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Evercore ISI set a $240.00 price target on Installed Building Products in a research note on Tuesday, October 7th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Vertical Research assumed coverage on shares of Installed Building Products in a report on Monday. They issued a “sell” rating on the stock. Finally, Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $220.45.

Insider Activity at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the transaction, the insider directly owned 37,999 shares of the company’s stock, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock worth $3,123,578 over the last ninety days. Corporate insiders own 16.20% of the company’s stock.

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.