BlackRock Inc. boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP – Get Rating) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,888,007 shares of the construction company’s stock after purchasing an additional 160,517 shares during the quarter. BlackRock Inc. owned about 13.59% of Installed Building Products worth $314,889,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ronald Blue Trust Inc. purchased a new stake in shares of Installed Building Products in the second quarter valued at $43,000. Covestor Ltd grew its holdings in shares of Installed Building Products by 112.4% in the first quarter. Covestor Ltd now owns 582 shares of the construction company’s stock worth $49,000 after purchasing an additional 308 shares during the last quarter. Lazard Asset Management LLC bought a new position in Installed Building Products during the 2nd quarter worth about $72,000. CI Investments Inc. bought a new position in Installed Building Products during the 2nd quarter worth about $83,000. Finally, Premier Fund Managers Ltd grew its holdings in Installed Building Products by 57.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 1,683 shares of the construction company’s stock worth $137,000 after acquiring an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Insider Activity at Installed Building Products
In other Installed Building Products news, CEO Jeffrey W. Edwards sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $115.91, for a total transaction of $5,795,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,591,194 shares of the company’s stock, valued at approximately $184,435,296.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Installed Building Products news, CEO Jeffrey W. Edwards sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $115.91, for a total transaction of $5,795,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,591,194 shares of the company’s stock, valued at approximately $184,435,296.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Thomas Miller sold 21,918 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $119.28, for a total transaction of $2,614,379.04. Following the transaction, the chief financial officer now directly owns 23,772 shares of the company’s stock, valued at $2,835,524.16. The disclosure for this sale can be found here. Insiders sold 115,826 shares of company stock valued at $13,478,546 in the last three months. 17.90% of the stock is owned by insiders.
Installed Building Products Stock Performance
Shares of Installed Building Products stock opened at $109.29 on Friday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 14.08 and a beta of 1.69. The company has a quick ratio of 2.16, a current ratio of 2.70 and a debt-to-equity ratio of 1.70. The company has a 50 day moving average price of $107.19 and a 200 day moving average price of $92.90. Installed Building Products, Inc. has a 52 week low of $69.44 and a 52 week high of $121.60.
Installed Building Products Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $1.23 dividend. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.32. This represents a $4.92 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Tuesday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.24%.
Analyst Ratings Changes
Several research analysts have issued reports on IBP shares. Deutsche Bank Aktiengesellschaft upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and increased their target price for the stock from $90.00 to $124.00 in a report on Tuesday, January 10th. StockNews.com lowered shares of Installed Building Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 3rd. Finally, Royal Bank of Canada increased their price target on shares of Installed Building Products from $79.00 to $85.00 and gave the company an “underperform” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $102.30.
Installed Building Products Company Profile
Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.
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