Goldman Sachs Group Inc. Sells 5,414 Shares of Installed Building Products, Inc. (NYSE:IBP)

Goldman Sachs Group Inc. reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 267,697 shares of the construction company’s stock after selling 5,414 shares during the period. Goldman Sachs Group Inc. owned about 0.94% of Installed Building Products worth $48,940,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in Installed Building Products in the fourth quarter valued at approximately $25,000. Russell Investments Group Ltd. lifted its position in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Annapolis Financial Services LLC grew its stake in shares of Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Installed Building Products in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBP. Truist Financial increased their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a report on Friday, May 10th. JPMorgan Chase & Co. lowered their target price on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Benchmark raised their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Loop Capital lifted their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.30.

Installed Building Products Trading Down 1.6 %

Shares of IBP stock opened at $210.83 on Thursday. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $263.76. The business’s fifty day moving average is $223.66 and its 200 day moving average is $214.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.67 and a current ratio of 3.18. The company has a market capitalization of $6.00 billion, a PE ratio of 23.85 and a beta of 1.95.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.29. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. The firm had revenue of $692.90 million for the quarter, compared to analysts’ expectations of $676.60 million. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 0.66%. Installed Building Products’s payout ratio is presently 15.84%.

Insiders Place Their Bets

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

Installed Building Products Profile

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.