Maryland State Retirement & Pension System Sells 116 Shares of Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System trimmed its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,570 shares of the construction company’s stock after selling 116 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Annapolis Financial Services LLC raised its stake in shares of Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after acquiring an additional 53 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Installed Building Products in the 4th quarter worth approximately $32,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Installed Building Products during the 4th quarter worth approximately $33,000. 99.61% of the stock is currently owned by institutional investors.

Insider Transactions at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Todd R. Fry sold 500 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,619 shares of company stock worth $1,606,732. Company insiders own 16.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on IBP shares. Royal Bank of Canada lifted their price target on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. DA Davidson started coverage on Installed Building Products in a report on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective on the stock. Truist Financial boosted their target price on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Finally, StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Installed Building Products Stock Up 0.4 %

Shares of NYSE:IBP traded up $1.06 during midday trading on Wednesday, reaching $237.99. The company had a trading volume of 36,540 shares, compared to its average volume of 258,399. The business’s 50 day moving average price is $242.89 and its 200 day moving average price is $195.90. Installed Building Products, Inc. has a 1-year low of $103.50 and a 1-year high of $263.76. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $6.77 billion, a PE ratio of 27.53 and a beta of 1.91.

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

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a yield of 2.69%. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

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.