Installed Building Products, Inc. (NYSE:IBP) Stock Position Trimmed by Benjamin Edwards Inc.

Benjamin Edwards Inc. cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 9.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,152 shares of the construction company’s stock after selling 212 shares during the period. Benjamin Edwards Inc.’s holdings in Installed Building Products were worth $443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co grew its stake in shares of Installed Building Products by 2.3% in the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after purchasing an additional 46 shares in the last quarter. Quarry LP grew its position in Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares in the last quarter. CWM LLC increased its stake in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the period. Arkadios Wealth Advisors raised its position in shares of Installed Building Products by 2.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after buying an additional 63 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Installed Building Products by 50.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after acquiring an additional 88 shares during the period. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IBP. Royal Bank of Canada boosted their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Truist Financial raised their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $255.20.

Installed Building Products Stock Performance

Shares of IBP opened at $239.09 on Friday. The company has a 50-day moving average of $227.25 and a two-hundred day moving average of $227.26. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 27.05 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. Installed Building Products, Inc. has a one year low of $106.01 and a one year high of $281.04.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, equities research analysts expect that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.59%. Installed Building Products’s payout ratio is presently 15.84%.

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.