US Bancorp DE cuts stake in Installed Building Products, Inc. (NYSE:IBP)

US Bancorp DE reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,267 shares of the construction company after selling 349 shares during the period. US Bancorp DE’s shares in Installed Building Products were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of IBP. NBC Securities Inc. purchased a new stake in shares of Installed Building Products during the 4th quarter worth $25,000. Russell Investments Group Ltd. increased its stake in Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products during the first quarter worth approximately $29,000. Finally, Annapolis Financial Services LLC increased its holdings in Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed stock of construction products increases by 7.1%

Shares of IBP opened at $265.43 on Friday. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $266.30. The stock has a market cap of $7.55 billion, a price/earnings ratio of 30.03 and a beta of 1.93. The stock has a 50-day moving average of $216.28 and a 200-day moving average of $222.17. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25.

Installed Building Products (NYSE:IBP – Get Free Report) last released its earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The company had revenue of $692.90 million during the quarter, compared to analyst estimates of $676.60 million. As a group, sell-side analysts expect Installed Building Products, Inc. to post 11.2 EPS for the current year.

Installed building products reduce dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were paid a dividend of $0.35, with the ex-dividend date being Friday, June 14th. This represents an annualized dividend of $1.40 and a dividend yield of 0.53%. Installed Building Products’ dividend payout ratio (DPR) is currently 15.84%.

Insider transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction dated Monday, May 20. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the transaction, the Director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. In related news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction dated Monday, May 20. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the Director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Wall Street analysts predict growth

A number of analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Goldman Sachs Group lowered their price target on shares of Installed Building Products from $300.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Royal Bank of Canada increased their price target on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. Finally, Loop Capital raised their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price objective of $245.70.

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Company Profile of Installed Building Products

(Free Report)

Installed Building Products, Inc., together with its subsidiaries, is engaged in the installation of insulation, waterproofing, fireproofing, fire resistance, garage doors, downpipes, blinds, shower doors, closet shelves and mirrors, and other products in the United States. It operates through the Installation, Distribution, and Manufacturing operating segments.

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