First Eagle Investment Management LLC Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

First Eagle Investment Management LLC lowered its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,528 shares of the construction company’s stock after selling 1,720 shares during the quarter. First Eagle Investment Management LLC owned 0.16% of Installed Building Products worth $9,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after buying an additional 101 shares during the period. Gryphon Financial Partners LLC purchased a new position in shares of Installed Building Products during the 4th quarter worth approximately $214,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Installed Building Products in the fourth quarter valued at approximately $339,000. Vanguard Personalized Indexing Management LLC acquired a new position in Installed Building Products during the fourth quarter worth $216,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Installed Building Products by 58.7% during the fourth quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock worth $48,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 4.3 %

NYSE IBP opened at $246.33 on Friday. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04. The firm has a 50 day moving average of $227.08 and a two-hundred day moving average of $227.27. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $7.01 billion, a PE ratio of 27.87 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. As a group, research analysts expect that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Wall Street Analysts Forecast Growth

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

Installed Building Products Company 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.