Swiss National Bank Sells 900 Shares of Installed Building Products, Inc. (NYSE:IBP)

Swiss National Bank decreased its position in Installed Building Products, Inc. (NYSE:IBP) by 1.9% during the first quarter, HoldingsChannel.com reports. The firm owned 46,333 shares of the construction company’s stock after selling 900 shares during the quarter. Swiss National Bank’s holdings in Installed Building Products were worth $7,944,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBP. Bank of Montreal Can boosted its stake in Installed Building Products by 12.7% in the 4th quarter. Bank of Montreal Can now owns 4,398 shares of the construction company’s stock worth $771,000 after purchasing an additional 496 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Installed Building Products by 365.3% in the 4th quarter. Renaissance Technologies LLC now owns 22,800 shares of the construction company’s stock worth $3,996,000 after purchasing an additional 17,900 shares in the last quarter. Raymond James Financial Inc. bought a new position in Installed Building Products in the 4th quarter worth about $23,776,000. Townsquare Capital LLC raised its position in Installed Building Products by 40.5% in the 4th quarter. Townsquare Capital LLC now owns 1,406 shares of the construction company’s stock worth $246,000 after buying an additional 405 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Installed Building Products by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock worth $439,000 after buying an additional 79 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IBP shares. Royal Bank Of Canada reissued an “underperform” rating and issued a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price for the company. in a research report on Tuesday, August 12th. Benchmark decreased their target price on Installed Building Products from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Jefferies Financial Group reissued a “hold” rating and issued a $225.00 target price (up previously from $175.00) on shares of Installed Building Products in a research report on Tuesday, August 12th. Finally, Loop Capital lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $217.36.

Insider Activity at Installed Building Products

In related news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the sale, the insider directly owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the sale, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $267.93 on Friday. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $275.76. The firm has a market capitalization of $7.32 billion, a P/E ratio of 29.80 and a beta of 1.73. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $199.54 and a 200-day moving average price of $180.19.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same quarter in the prior year, the firm earned $2.84 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products’s dividend payout ratio is currently 16.46%.

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.