Bamco Inc. NY Reduces Position in Installed Building Products, Inc. $IBP

Bamco Inc. NY trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 458,182 shares of the construction company’s stock after selling 22,857 shares during the period. Bamco Inc. NY’s holdings in Installed Building Products were worth $113,015,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Installed Building Products during the 3rd quarter valued at about $33,000. Salomon & Ludwin LLC purchased a new position in shares of Installed Building Products during the third quarter valued at approximately $42,000. Farther Finance Advisors LLC lifted its position in Installed Building Products by 31.8% during the third quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after purchasing an additional 54 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Installed Building Products in the third quarter worth approximately $61,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Installed Building Products by 14.0% in the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 4.7%

Shares of IBP stock opened at $285.00 on Friday. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 4.00 and a beta of 1.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The company’s fifty day moving average price is $308.29 and its 200-day moving average price is $276.70. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $349.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The business had revenue of $747.50 million for the quarter, compared to analysts’ expectations of $738.97 million. During the same period last year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $1.80 per share. This represents a yield of 63.0%. The ex-dividend date of this dividend is Friday, March 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.21%.

Analysts Set New Price Targets

IBP has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Jefferies Financial Group lifted their price target on shares of Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research note on Monday, December 15th. Zacks Research lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Royal Bank Of Canada raised their target price on Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $256.09.

Insider Activity at Installed Building Products

In related news, 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 transaction, the director directly owned 5,373 shares of the company’s stock, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the transaction, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by company 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.