Cornercap Investment Counsel Inc. Decreases Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Cornercap Investment Counsel Inc. trimmed its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 43.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,279 shares of the construction company’s stock after selling 3,350 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Installed Building Products were worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of IBP. McGlone Suttner Wealth Management Inc. bought a new position in Installed Building Products in the 4th quarter valued at $33,000. Covestor Ltd grew its position in shares of Installed Building Products by 112.4% during the 1st quarter. Covestor Ltd now owns 582 shares of the construction company’s stock worth $49,000 after buying an additional 308 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Installed Building Products during the 4th quarter worth $49,000. Ronald Blue Trust Inc. grew its position in shares of Installed Building Products by 117.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company’s stock worth $66,000 after buying an additional 286 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Installed Building Products by 24.4% during the 4th quarter. State of Wyoming now owns 913 shares of the construction company’s stock worth $78,000 after buying an additional 179 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Brad A. Wheeler sold 1,119 shares of Installed Building Products stock in a transaction that occurred 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 $1,631,145.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock worth $1,606,732 over the last quarter. 17.90% of the stock is currently owned by corporate insiders.

Installed Building Products Stock Down 1.4 %

Shares of IBP opened at $237.46 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. Installed Building Products, Inc. has a 12 month low of $103.50 and a 12 month high of $263.76. The stock’s 50 day moving average is $235.72 and its two-hundred day moving average is $182.78. The firm has a market cap of $6.75 billion, a P/E ratio of 27.58 and a beta of 1.89.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. During the same period last year, the company earned $2.34 earnings per share. Installed Building Products’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. 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. Evercore ISI upped their price objective on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Finally, DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.40.

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.