SG Americas Securities LLC Sells 4,330 Shares of Installed Building Products, Inc. $IBP

SG Americas Securities LLC cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 46.9% in the first quarter, Holdings Channel reports. The institutional investor owned 4,897 shares of the construction company’s stock after selling 4,330 shares during the quarter. SG Americas Securities LLC’s holdings in Installed Building Products were worth $1,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Installed Building Products by 26.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after acquiring an additional 328,725 shares during the period. Giverny Capital Inc. increased its position in Installed Building Products by 0.9% during the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after acquiring an additional 4,500 shares during the period. First Trust Advisors LP raised its stake in Installed Building Products by 0.3% during the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock valued at $103,950,000 after purchasing an additional 1,238 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Installed Building Products by 52.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after purchasing an additional 122,561 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Installed Building Products by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock valued at $91,045,000 after purchasing an additional 5,384 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $228.13 on Friday. 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 firm’s 50-day simple moving average is $226.15 and its 200-day simple moving average is $269.21. Installed Building Products, Inc. has a twelve month low of $182.88 and a twelve month high of $349.00. The firm has a market cap of $6.15 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 5.66 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. During the same period last year, the company earned $2.08 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, research analysts expect that Installed Building Products, Inc. will post 9.57 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

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

Insider Buying and Selling

In related news, Director Lawrence A. Hilsheimer bought 475 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the transaction, the director directly owned 28,468 shares of the company’s stock, valued at $5,870,670.96. This represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael Thomas Miller bought 990 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $200.62 per share, with a total value of $198,613.80. Following the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on IBP shares. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. Truist Financial reduced their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, May 8th. The Goldman Sachs Group reduced their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Company decreased their price objective on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average 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.