Clearbridge Investments LLC Cuts Holdings in Installed Building Products, Inc. $IBP

Clearbridge Investments LLC trimmed its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 51.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,493 shares of the construction company’s stock after selling 111,916 shares during the quarter. Clearbridge Investments LLC owned approximately 0.39% of Installed Building Products worth $27,104,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association purchased a new position in Installed Building Products in the first quarter worth $263,000. Jane Street Group LLC grew its holdings in Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after purchasing an additional 12,545 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after purchasing an additional 92 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in Installed Building Products by 959.6% in the second 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 during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, Director Lawrence A. Hilsheimer purchased 475 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $206.22 per share, with a total value of $97,954.50. Following the completion of the acquisition, the director owned 28,468 shares in the company, valued at $5,870,670.96. This trade represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brad A. Wheeler purchased 716 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the completion of the acquisition, the chief operating officer owned 14,988 shares of the company’s stock, valued at $3,134,440.44. The trade was a 5.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 4,046 shares of company stock valued at $844,194 in the last three months. Company insiders own 13.80% of the company’s stock.

Installed Building Products Stock Performance

Shares of IBP opened at $206.11 on Wednesday. The stock has a 50-day moving average of $249.36 and a two-hundred day moving average of $275.52. Installed Building Products, Inc. has a one year low of $162.56 and a one year 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 stock has a market cap of $5.55 billion, a P/E ratio of 21.97, a P/E/G ratio of 4.94 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. During the same period in the prior year, the firm posted $2.08 EPS. The business’s revenue 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 of this dividend is Monday, June 15th. Installed Building Products’s dividend payout ratio is presently 16.63%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stephens cut 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 report on Friday, May 8th. Evercore set a $226.00 price target on shares of Installed Building Products in a report on Friday, May 8th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Vertical Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a report on Friday, February 27th. Finally, Truist Financial cut their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a 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. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Reduce” and a consensus price target of $247.67.

About Installed Building Products

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.