Baillie Gifford & Co. Raises Holdings in Installed Building Products, Inc. (NYSE:IBP)

Baillie Gifford & Co. grew its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 200.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,993 shares of the construction company’s stock after purchasing an additional 32,692 shares during the period. Baillie Gifford & Co. owned approximately 0.17% of Installed Building Products worth $12,676,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products during the first quarter valued at about $29,000. Russell Investments Group Ltd. grew its position in Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. NBC Securities Inc. purchased a new position in Installed Building Products in the fourth quarter worth about $25,000. Hexagon Capital Partners LLC grew its position in Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Finally, Annapolis Financial Services LLC grew its position in Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.1 %

Shares of Installed Building Products stock traded down $0.16 on Friday, hitting $199.60. 182,846 shares of the company traded hands, compared to its average volume of 315,366. The stock’s 50 day moving average price is $215.81 and its 200-day moving average price is $216.53. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $263.76. The company has a market cap of $5.68 billion, a PE ratio of 22.57 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. The company had revenue of $692.90 million during the quarter, compared to the consensus estimate of $676.60 million. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. Equities research analysts predict that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 30th. Investors of record on Saturday, June 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Insider Buying and Selling

In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason R. Niswonger sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on IBP. Evercore ISI lifted their price target on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Benchmark raised their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday, May 10th. Finally, Loop Capital raised their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.30.

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.