Public Employees Retirement Association of Colorado Sells 214 Shares of Installed Building Products, Inc. (NYSE:IBP)

Public Employees Retirement Association of Colorado lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 123,665 shares of the construction company’s stock after selling 214 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Installed Building Products were worth $25,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IBP. Allspring Global Investments Holdings LLC bought a new position in shares of Installed Building Products in the 1st quarter valued at about $29,000. Russell Investments Group Ltd. lifted its stake in shares of Installed Building Products by 280.6% in the 4th 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 during the last quarter. Quarry LP boosted its holdings in shares of Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after purchasing an additional 57 shares during the period. C M Bidwell & Associates Ltd. increased its position in shares of Installed Building Products by 1,393.8% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after purchasing an additional 223 shares during the last quarter. Finally, CWM LLC raised its holdings in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens reiterated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada upped their target price on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Stock Down 2.8 %

Shares of NYSE:IBP opened at $239.09 on Friday. The business’s 50 day moving average is $227.25 and its 200 day moving average is $227.26. The stock has a market cap of $6.80 billion, a P/E ratio of 27.05 and a beta of 1.93. 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.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The business had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Sell-side analysts predict that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

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.