Canada Pension Plan Investment Board Trims Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Canada Pension Plan Investment Board lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 76.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the construction company’s stock after selling 13,200 shares during the period. Canada Pension Plan Investment Board’s holdings in Installed Building Products were worth $823,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares in the last quarter. Duality Advisers LP grew its stake in Installed Building Products by 32.2% during the first quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after acquiring an additional 3,389 shares in the last quarter. Goodnow Investment Group LLC lifted its position in Installed Building Products by 28.9% during the fourth quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after purchasing an additional 20,737 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Installed Building Products during the first quarter valued at approximately $564,000. Finally, Swedbank AB lifted its position in Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after purchasing an additional 43,000 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $250.40 on Friday. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 28.33 and a beta of 1.93. The firm’s 50-day moving average is $227.39 and its 200 day moving average is $227.48. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. 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 (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, topping analysts’ consensus estimates of $2.77 by $0.13. The company 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%. Sell-side analysts anticipate that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.56%. 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

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Evercore ISI lifted their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group lifted their target price 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. Stephens restated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $255.20.

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.