Geode Capital Management LLC Has $166.97 Million Holdings in Installed Building Products, Inc. $IBP

Geode Capital Management LLC cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,601 shares of the construction company’s stock after selling 4,702 shares during the quarter. Geode Capital Management LLC owned 2.37% of Installed Building Products worth $166,966,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after acquiring an additional 486 shares during the period. United Services Automobile Association acquired a new stake in Installed Building Products during the 1st quarter worth about $263,000. Jane Street Group LLC boosted its position in Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the period. Hsbc Holdings PLC boosted its position in Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after acquiring an additional 92 shares during the period. Finally, Jump Financial LLC raised its stake in shares of Installed Building Products by 959.6% during the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after purchasing an additional 16,400 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Installed Building Products

In related news, insider Jason R. Niswonger bought 455 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the acquisition, the insider owned 17,122 shares in the company, valued at $3,677,805.60. This trade represents a 2.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the sale, the director owned 5,373 shares of the company’s stock, valued at approximately $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders acquired 4,046 shares of company stock worth $844,194. 13.80% of the stock is currently owned by company insiders.

Installed Building Products Stock Down 1.6%

Shares of IBP stock opened at $201.00 on Thursday. The stock’s 50 day simple moving average is $254.56 and its 200 day simple moving average is $276.80. Installed Building Products, Inc. has a twelve month low of $162.56 and a twelve month high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 5.04 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. During the same quarter last year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts predict that Installed Building Products, Inc. will post 9.62 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Installed Building Products’s payout ratio is 16.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBP. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a report on Monday, May 11th. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Zacks Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Benchmark downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Truist Financial decreased their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $247.67.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.