Lighthouse Investment Partners LLC Cuts Position in Installed Building Products, Inc. (NYSE:IBP)

Lighthouse Investment Partners LLC trimmed its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 79.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,319 shares of the construction company’s stock after selling 24,076 shares during the period. Lighthouse Investment Partners LLC’s holdings in Installed Building Products were worth $1,300,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Installed Building Products by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,200 shares of the construction company’s stock worth $2,921,000 after buying an additional 627 shares during the last quarter. Millennium Management LLC boosted its holdings in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares in the last quarter. Aristeia Capital L.L.C. purchased a new stake in shares of Installed Building Products in the second quarter worth $439,000. Interval Partners LP bought a new position in shares of Installed Building Products during the second quarter valued at $12,749,000. Finally, Xponance Inc. raised its position in shares of Installed Building Products by 5.3% in the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $250.40 on Friday. The company has a market capitalization of $7.12 billion, a P/E ratio of 28.33 and a beta of 1.93. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $281.04. The firm’s 50 day simple moving average is $227.39 and its two-hundred day simple moving average is $227.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The company had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. Research analysts expect that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Analyst Ratings Changes

Several brokerages recently commented on IBP. Truist Financial increased their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group boosted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group raised their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $255.20.

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.