Installed Building Products, Inc. $IBP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 156,873 shares of the construction company’s stock after selling 4,000 shares during the period. Bank of New York Mellon Corp’s holdings in Installed Building Products were worth $41,595,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IBP. Danske Bank A S purchased a new position in Installed Building Products in the third quarter valued at about $25,000. NewEdge Advisors LLC lifted its position in Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after acquiring an additional 133 shares during the period. Eagle Bay Advisors LLC purchased a new position in Installed Building Products in the 4th quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Installed Building Products in the third quarter valued at approximately $46,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IBP shares. Weiss Ratings cut shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Evercore set a $226.00 price target on shares of Installed Building Products in a report on Friday, May 8th. Stephens dropped their price target on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a report on Monday, May 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $242.00 target price on shares of Installed Building Products in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $247.67.

Installed Building Products Stock Performance

Shares of IBP opened at $227.55 on Friday. The firm has a fifty day moving average of $216.83 and a 200-day moving average of $265.00. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 5.34 and a beta of 1.69. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data 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 net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products’s dividend payout ratio is 16.63%.

Insiders Place Their Bets

In other news, COO Brad A. Wheeler purchased 716 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the transaction, the chief operating officer owned 14,988 shares in the company, valued at $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Thomas Miller purchased 990 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. The trade was a 2.98% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 5,036 shares of company stock valued at $1,042,807 in the last quarter. 13.80% of the stock is owned by insiders.

Installed Building Products Company 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.