Fisher Funds Management LTD Decreases Position in Installed Building Products, Inc. $IBP

Fisher Funds Management LTD lessened its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 65.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,966 shares of the construction company’s stock after selling 53,882 shares during the quarter. Fisher Funds Management LTD’s holdings in Installed Building Products were worth $7,680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBP. Danske Bank A S purchased a new position in Installed Building Products during the 3rd quarter worth $25,000. NewEdge Advisors LLC raised its stake in Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Installed Building Products in the third quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Installed Building Products by 700.0% in the third 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 in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in Installed Building Products in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IBP. Weiss Ratings lowered Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Vertical Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a research report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $247.67.

Installed Building Products Trading Down 0.3%

Installed Building Products stock opened at $217.61 on Monday. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. Installed Building Products, Inc. has a 52 week low of $166.39 and a 52 week high of $349.00. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 5.39 and a beta of 1.71. The stock has a 50-day moving average price of $240.14 and a 200 day moving average price of $272.52.

Installed Building Products (NYSE:IBP) last issued its 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 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 analysts’ expectations of $668.92 million. During the same quarter in the prior year, the company earned $2.08 EPS. Installed Building Products’s quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that Installed Building Products, Inc. will post 9.62 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Installed Building Products’s payout ratio is presently 16.63%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller acquired 990 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the purchase, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brad A. Wheeler bought 716 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $209.13 per share, with a total value of $149,737.08. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is currently 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.