Clearbridge Investments LLC Acquires 38,865 Shares of Installed Building Products, Inc. (NYSE:IBP)

Clearbridge Investments LLC increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 46.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,649 shares of the construction company’s stock after acquiring an additional 38,865 shares during the period. Clearbridge Investments LLC owned about 0.43% of Installed Building Products worth $31,733,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of IBP. NBC Securities Inc. bought a new stake in Installed Building Products during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. lifted its holdings in Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after buying an additional 101 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products during the 1st quarter worth $29,000. Finally, Annapolis Financial Services LLC lifted its holdings in Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after buying an additional 53 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Loop Capital upped their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 10th. The Goldman Sachs Group reduced their price objective on Installed Building Products from $300.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Finally, Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.70.

Installed Building Products Trading Up 1.1 %

Shares of IBP traded up $2.78 during trading hours on Tuesday, reaching $249.95. The stock had a trading volume of 224,336 shares, compared to its average volume of 295,930. The company has a quick ratio of 2.67, a current ratio of 3.18 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 firm has a 50-day moving average of $214.07 and a 200 day moving average of $220.72. The company has a market cap of $7.11 billion, a P/E ratio of 28.50 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. On average, sell-side analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Insiders Place Their Bets

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

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.