Installed Building Products, Inc. (NYSE:IBP) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 45,528 shares of the construction company’s stock after selling 1,720 shares during the quarter. First Eagle Investment Management LLC’s holdings in Installed Building Products were worth $9,364,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new position in Installed Building Products during the 1st quarter worth approximately $96,248,000. Norges Bank acquired a new position in shares of Installed Building Products in the 4th quarter valued at $37,583,000. Price T Rowe Associates Inc. MD raised its position in Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Installed Building Products by 3,919.2% during the 4th 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 during the period. Finally, Clearbridge Investments LLC purchased a new position in Installed Building Products during the 4th quarter worth $15,317,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IBP shares. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Jefferies Financial Group increased their price objective on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Truist Financial boosted their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average price target of $255.20.

Installed Building Products Price Performance

Installed Building Products stock opened at $246.33 on Friday. The company has a market cap of $7.01 billion, a P/E ratio of 27.87 and a beta of 1.93. Installed Building Products, Inc. has a one year low of $106.01 and a one year high of $281.04. The business has a fifty day moving average of $227.08 and a two-hundred day moving average of $227.27. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

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

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.57%. Installed Building Products’s payout ratio is 15.84%.

About Installed Building Products

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.