Public Employees Retirement Association of Colorado Sells 214 Shares of Installed Building Products, Inc. (NYSE:IBP)

Public Employees Retirement Association of Colorado lessened its stake in Installed Building Products, Inc. (NYSE:IBP) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,665 shares of the construction company’s stock after selling 214 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.43% of Installed Building Products worth $25,435,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 101 shares during the period. Gryphon Financial Partners LLC bought a new stake in Installed Building Products during the fourth quarter valued at approximately $214,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Installed Building Products during the fourth quarter valued at approximately $339,000. Vanguard Personalized Indexing Management LLC bought a new position in Installed Building Products in the fourth quarter worth approximately $216,000. Finally, Quadrant Capital Group LLC raised its position in Installed Building Products by 58.7% in the fourth quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock worth $48,000 after acquiring an additional 98 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBP has been the subject of several analyst reports. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Evercore ISI upped their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada lifted their price objective on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $255.20.

Installed Building Products Trading Down 2.8 %

Installed Building Products stock opened at $239.09 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The firm’s 50 day moving average price is $227.25 and its 200-day moving average price is $227.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The stock has a market cap of $6.80 billion, a P/E ratio of 27.05 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate 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 analysts predict that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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