Ausbil Investment Management Ltd Sells 4,859 Shares of Installed Building Products, Inc. (NYSE:IBP)

by · The Markets Daily

Ausbil Investment Management Ltd decreased its stake in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,540 shares of the construction company’s stock after selling 4,859 shares during the period. Ausbil Investment Management Ltd’s holdings in Installed Building Products were worth $1,857,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IBP. Swedbank AB acquired a new position in Installed Building Products during the 1st quarter worth about $96,248,000. Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after acquiring an additional 183,696 shares in the last quarter. Millennium Management LLC increased its stake in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after purchasing an additional 114,259 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Installed Building Products by 2,912.0% in the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after buying an additional 72,800 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Installed Building Products in the first quarter worth approximately $17,806,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Trading Up 2.7 %

NYSE:IBP traded up $6.14 on Thursday, reaching $233.22. 46,416 shares of the company’s stock were exchanged, compared to its average volume of 287,519. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 26.20 and a beta of 1.94. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $230.14 and a 200-day moving average of $226.34.

Installed Building Products (NYSE:IBP – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. As a group, analysts expect that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.60%. Installed Building Products’s payout ratio is 15.84%.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.40.

Read Our Latest Report on Installed Building Products

About Installed Building Products

(Free Report)

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.

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