Teachers Retirement System of The State of Kentucky cut its holdings in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 48.2% during the first quarter, Holdings Channel reports. The firm owned 5,476 shares of the construction company’s stock after selling 5,090 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Installed Building Products were worth $1,452,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after buying an additional 486 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Installed Building Products in the first quarter worth $263,000. Jane Street Group LLC boosted its position in shares of Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after acquiring an additional 92 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock valued at $3,265,000 after acquiring an additional 16,400 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CFO Michael Thomas Miller purchased 990 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence A. Hilsheimer purchased 475 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $206.22 per share, with a total value of $97,954.50. Following the completion of the transaction, the director owned 28,468 shares of the company’s stock, valued at $5,870,670.96. The trade was a 1.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 5,036 shares of company stock valued at $1,042,807 over the last quarter. Company insiders own 13.80% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Analysis on IBP
Installed Building Products Stock Performance
Installed Building Products stock opened at $229.80 on Thursday. The company’s 50-day moving average price is $214.65 and its 200-day moving average price is $266.86. Installed Building Products, Inc. has a twelve month low of $182.88 and a twelve month high of $349.00. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The company has a market cap of $6.19 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 5.57 and a beta of 1.69.
Installed Building Products (NYSE:IBP – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. On average, equities research analysts forecast that Installed Building Products, Inc. will post 9.57 EPS for the current fiscal year.
Installed Building Products Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.63%.
Installed Building Products Company Profile
Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.
Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.
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