Vanguard Group Inc. Grows Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Vanguard Group Inc. increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,622,555 shares of the construction company’s stock after buying an additional 3,891 shares during the quarter. Vanguard Group Inc. owned about 9.24% of Installed Building Products worth $479,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Installed Building Products by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock valued at $140,974,000 after purchasing an additional 5,359 shares during the period. Giverny Capital Inc. raised its position in Installed Building Products by 5.2% in the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock valued at $83,261,000 after purchasing an additional 22,528 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Installed Building Products by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock valued at $69,058,000 after purchasing an additional 15,220 shares during the period. Channing Capital Management LLC purchased a new stake in Installed Building Products in the fourth quarter valued at approximately $58,696,000. Finally, Northern Trust Corp raised its position in Installed Building Products by 0.9% in the third quarter. Northern Trust Corp now owns 277,868 shares of the construction company’s stock valued at $34,703,000 after purchasing an additional 2,466 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Insider Activity at Installed Building Products

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

Installed Building Products Stock Performance

Shares of IBP stock opened at $196.44 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average price of $220.55 and a 200 day moving average price of $215.58. The company has a market cap of $5.59 billion, a P/E ratio of 22.22 and a beta of 1.95. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $263.76.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. Sell-side analysts predict that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be given a $0.35 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.71%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on IBP. DA Davidson assumed coverage on Installed Building Products in a research report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Royal Bank of Canada boosted their price target on shares of Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday, May 10th. Benchmark boosted their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Loop Capital boosted their price target on shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.30.

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.