Vaughan Nelson Investment Management L.P. Trims Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Vaughan Nelson Investment Management L.P. lessened its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.1% in the 1st quarter, HoldingsChannel reports. The firm owned 373,641 shares of the construction company’s stock after selling 4,100 shares during the quarter. Installed Building Products makes up approximately 0.8% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 28th largest holding. Vaughan Nelson Investment Management L.P.’s holdings in Installed Building Products were worth $96,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBP. Channing Capital Management LLC purchased a new stake in shares of Installed Building Products during the fourth quarter worth about $58,696,000. Norges Bank purchased a new stake in shares of Installed Building Products during the fourth quarter worth about $37,583,000. Public Employees Retirement Association of Colorado increased its stake in shares of Installed Building Products by 3,919.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Installed Building Products during the fourth quarter worth about $15,317,000. Finally, New York State Common Retirement Fund increased its stake in shares of Installed Building Products by 732.3% during the fourth quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock worth $15,427,000 after purchasing an additional 74,247 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IBP shares. Benchmark boosted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. DA Davidson began coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 price target on the stock. Loop Capital boosted their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Royal Bank of Canada upped their target price on shares of Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Moderate Buy” and a consensus target price of $229.30.

Installed Building Products Stock Performance

NYSE:IBP traded down $1.10 during trading hours on Tuesday, reaching $200.00. 4,511 shares of the company’s stock were exchanged, compared to its average volume of 287,056. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 22.75 and a beta of 1.93. The company has a 50-day moving average of $218.81 and a 200 day moving average of $216.49. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $263.76.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The firm had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. Research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason R. Niswonger sold 6,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares in the company, valued at approximately $3,024,464.56. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

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.