Geode Capital Management LLC Sells 4,702 Shares of Installed Building Products, Inc. $IBP

Geode Capital Management LLC reduced its holdings in Installed Building Products, Inc. (NYSE:IBP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 643,601 shares of the construction company’s stock after selling 4,702 shares during the period. Geode Capital Management LLC’s holdings in Installed Building Products were worth $166,966,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Installed Building Products in the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC increased its position in Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after buying an additional 100 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Installed Building Products in the 3rd quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. increased its position in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after buying an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in Installed Building Products in the 4th quarter worth approximately $43,000. 99.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence A. Hilsheimer purchased 475 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $206.22 per share, for a total transaction of $97,954.50. Following the completion of the transaction, the director directly owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. The trade was a 1.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brad A. Wheeler purchased 716 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the completion of the transaction, the chief operating officer directly owned 14,988 shares of the company’s stock, valued at approximately $3,134,440.44. This trade represents a 5.02% 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 purchased 4,046 shares of company stock worth $844,194. Insiders own 13.80% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the topic of several recent analyst reports. Stephens dropped their price target on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Evercore set a $226.00 price target on Installed Building Products in a research report on Friday, May 8th. The Goldman Sachs Group dropped their price target on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. DA Davidson reaffirmed a “neutral” rating and issued a $242.00 price target on shares of Installed Building Products in a research report on Monday. Finally, Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Reduce” and an average target price of $247.67.

Installed Building Products Stock Performance

IBP opened at $201.00 on Thursday. The stock has a market cap of $5.41 billion, a PE ratio of 21.43, a P/E/G ratio of 5.04 and a beta of 1.71. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. Installed Building Products, Inc. has a 1 year low of $162.56 and a 1 year high of $349.00. The stock’s 50 day simple moving average is $254.56 and its 200-day simple moving average is $276.80.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 earnings per share. Sell-side analysts forecast that Installed Building Products, Inc. will post 9.62 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 15th. Installed Building Products’s dividend payout ratio is currently 16.63%.

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.