Maryland State Retirement & Pension System Sells 122 Shares of Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System lessened its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.4% in the first quarter, HoldingsChannel.com reports. The fund owned 8,448 shares of the construction company’s stock after selling 122 shares during the period. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $2,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBP. Channing Capital Management LLC bought a new stake in shares of Installed Building Products during the 4th quarter worth approximately $58,696,000. Norges Bank acquired a new position in Installed Building Products during the 4th quarter worth approximately $37,583,000. Public Employees Retirement Association of Colorado increased its position in Installed Building Products by 3,919.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Installed Building Products during the 4th quarter worth approximately $15,317,000. Finally, New York State Common Retirement Fund increased its position in Installed Building Products by 732.3% during the 4th quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock worth $15,427,000 after purchasing an additional 74,247 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Buying and Selling

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

Installed Building Products Stock Down 1.3 %

Shares of IBP traded down $2.63 during trading hours on Friday, reaching $197.13. 20,221 shares of the stock traded hands, compared to its average volume of 286,229. 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 $5.61 billion, a price-to-earnings ratio of 22.60 and a beta of 1.93. The stock has a fifty day simple moving average of $216.61 and a 200 day simple moving average of $216.39. 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 (NYSE:IBP) last announced its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. The firm had revenue of $692.90 million for the quarter, compared to the consensus estimate of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. On average, equities analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, June 14th. Installed Building Products’s dividend payout ratio is presently 15.84%.

Analysts Set New Price Targets

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

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.