Fisher Asset Management LLC Sells 3,315 Shares of Installed Building Products, Inc. (NYSE:IBP)

Fisher Asset Management LLC trimmed its position in Installed Building Products, Inc. (NYSE:IBP) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,002 shares of the construction company’s stock after selling 3,315 shares during the period. Fisher Asset Management LLC’s holdings in Installed Building Products were worth $1,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in Installed Building Products by 37.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 655,219 shares of the construction company’s stock valued at $81,830,000 after acquiring an additional 179,004 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Installed Building Products by 8.3% in the third quarter. Van Berkom & Associates Inc. now owns 498,670 shares of the construction company’s stock worth $62,279,000 after purchasing an additional 38,299 shares in the last quarter. Giverny Capital Inc. boosted its holdings in Installed Building Products by 1.1% during the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after purchasing an additional 4,542 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Installed Building Products by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock valued at $69,058,000 after purchasing an additional 15,220 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Installed Building Products by 0.9% in the 3rd quarter. Northern Trust Corp now owns 277,868 shares of the construction company’s stock valued at $34,703,000 after buying an additional 2,466 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBP. 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 note on Tuesday, April 2nd. Royal Bank of Canada boosted their price target on Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Finally, Truist Financial upped their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.40.

Insider Buying and Selling at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares in the company, valued at approximately $1,631,145.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock valued at $1,606,732 in the last ninety days. 16.50% of the stock is currently owned by corporate insiders.

Installed Building Products Price Performance

NYSE:IBP opened at $231.94 on Thursday. The company has a market cap of $6.60 billion, a P/E ratio of 26.94 and a beta of 1.91. The firm’s fifty day moving average price is $242.83 and its two-hundred day moving average price is $196.15. Installed Building Products, Inc. has a one year low of $103.50 and a one year high of $263.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. During the same quarter in the prior year, the business earned $2.34 EPS. Installed Building Products’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were paid a $1.60 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a yield of 2.76%. Installed Building Products’s payout ratio is 16.26%.

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.