Guinness Asset Management LTD Sells 2,352 Shares of Installed Building Products, Inc. $IBP

Guinness Asset Management LTD reduced its stake in Installed Building Products, Inc. (NYSE:IBP) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,189 shares of the construction company’s stock after selling 2,352 shares during the period. Guinness Asset Management LTD owned 0.15% of Installed Building Products worth $10,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S bought a new stake in Installed Building Products in the third quarter valued at $25,000. NewEdge Advisors LLC increased 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 purchasing an additional 100 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Installed Building Products in the third quarter valued at $33,000. Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $37,000 after purchasing an additional 133 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Installed Building Products in the fourth quarter valued at $43,000. 99.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Installed Building Products

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence A. Hilsheimer purchased 475 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the completion of the acquisition, the director owned 28,468 shares of the company’s stock, valued at $5,870,670.96. The trade was a 1.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 4,046 shares of company stock valued at $844,194 in the last quarter. 13.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IBP has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. Vertical Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price for the company in a research report on Friday, February 27th. Wells Fargo & Company decreased their target price on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, Truist Financial decreased 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 report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Reduce” and an average price target of $247.67.

Installed Building Products Trading Down 1.3%

NYSE:IBP opened at $214.05 on Friday. Installed Building Products, Inc. has a one year low of $152.18 and a one year high of $349.00. The company has a market cap of $5.77 billion, a PE ratio of 22.82, a PEG ratio of 5.35 and a beta of 1.84. The firm has a 50-day moving average of $265.27 and a 200-day moving average of $279.08. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share 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 firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. During the same quarter last year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Installed Building Products, Inc. will post 9.62 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

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

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.