Maryland State Retirement & Pension System Sells 122 Shares of Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,448 shares of the construction company’s stock after selling 122 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $2,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in Installed Building Products during the fourth quarter valued at about $25,000. Russell Investments Group Ltd. boosted its position 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 valued at $25,000 after purchasing an additional 101 shares in the last quarter. Hexagon Capital Partners LLC boosted its position 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 valued at $27,000 after purchasing an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products during the first quarter valued at about $29,000. Finally, Annapolis Financial Services LLC boosted its position in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

IBP stock traded down $2.63 during trading on Friday, hitting $197.13. 20,221 shares of the company traded hands, compared to its average volume of 286,229. The stock’s 50-day simple moving average is $216.61 and its 200 day simple moving average is $216.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. The company has a market cap of $5.61 billion, a PE ratio of 22.60 and a beta of 1.93. 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 announced its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.29. The company had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. On average, equities analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, June 14th. Installed Building Products’s payout ratio is currently 15.84%.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. Loop Capital raised their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI increased their price target on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. decreased their price target on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Finally, Royal Bank of Canada increased their price target on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.30.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction that occurred on 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 sale, the insider now directly owns 13,159 shares in the company, valued at $3,024,464.56. The disclosure for this sale can be found here. 16.50% of the stock is owned by corporate insiders.

Installed Building Products 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.