Clearbridge Investments LLC Lowers Holdings in Installed Building Products, Inc. $IBP

Clearbridge Investments LLC trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP) by 51.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 104,493 shares of the construction company’s stock after selling 111,916 shares during the period. Clearbridge Investments LLC’s holdings in Installed Building Products were worth $27,104,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. First Trust Advisors LP raised its position in shares of Installed Building Products by 2.4% in the third quarter. First Trust Advisors LP now owns 399,510 shares of the construction company’s stock worth $98,543,000 after acquiring an additional 9,489 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after acquiring an additional 122,561 shares during the period. TD Asset Management Inc raised its position in shares of Installed Building Products by 16.4% in the fourth quarter. TD Asset Management Inc now owns 316,532 shares of the construction company’s stock worth $82,105,000 after acquiring an additional 44,594 shares during the period. Ameriprise Financial Inc. raised its position in shares of Installed Building Products by 84.1% in the second quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock worth $49,893,000 after acquiring an additional 126,435 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Installed Building Products by 13.5% in the third quarter. Franklin Resources Inc. now owns 270,119 shares of the construction company’s stock worth $66,628,000 after acquiring an additional 32,042 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Truist Financial decreased their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Zacks Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Finally, Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $247.67.

Installed Building Products Stock Up 2.9%

IBP opened at $206.11 on Wednesday. Installed Building Products, Inc. has a twelve month low of $162.56 and a twelve month high of $349.00. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average price of $249.36 and a 200 day moving average price of $275.52. The company has a market cap of $5.55 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 4.94 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. During the same quarter last year, the company earned $2.08 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts expect that Installed Building Products, Inc. will post 9.62 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 15th. Installed Building Products’s dividend payout ratio is 16.63%.

Insider Activity at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller acquired 2,400 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $207.82 per share, for a total transaction of $498,768.00. Following the acquisition, the chief financial officer owned 33,219 shares in the company, valued at approximately $6,903,572.58. The trade was a 7.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason R. Niswonger acquired 455 shares of the business’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $214.80 per share, with a total value of $97,734.00. Following the acquisition, the insider owned 17,122 shares in the company, valued at $3,677,805.60. The trade was a 2.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 4,046 shares of company stock worth $844,194 in the last quarter. Company insiders own 13.80% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.