State of New Jersey Common Pension Fund D Sells 4,615 Shares of Installed Building Products, Inc. (NYSE:IBP)

State of New Jersey Common Pension Fund D lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 32.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,640 shares of the construction company’s stock after selling 4,615 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Installed Building Products were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in IBP. Swedbank AB bought a new stake in Installed Building Products during the first quarter valued at about $96,248,000. Norges Bank bought a new stake in Installed Building Products during the fourth quarter valued at about $37,583,000. Price T Rowe Associates Inc. MD boosted its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Installed Building Products by 3,919.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock valued at $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new stake in Installed Building Products during the fourth quarter valued at about $15,317,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 2.8 %

Installed Building Products stock opened at $239.09 on Friday. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 27.05 and a beta of 1.93. The stock has a 50-day moving average price of $227.25 and a 200 day moving average price of $227.26.

Installed Building Products (NYSE:IBP) last released 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. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Sell-side analysts anticipate that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio is currently 15.84%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IBP shares. Jefferies Financial Group raised their price objective on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Stephens reissued an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $255.20.

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.