ProShare Advisors LLC Trims Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

ProShare Advisors LLC cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 23.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,646 shares of the construction company’s stock after selling 1,129 shares during the period. ProShare Advisors LLC’s holdings in Installed Building Products were worth $750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products during the 1st quarter worth approximately $29,000. Quarry LP grew its stake in shares of Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares in the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Installed Building Products by 1,393.8% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after buying an additional 223 shares in the last quarter. CWM LLC lifted its stake in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Installed Building Products by 50.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after acquiring an additional 88 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBP has been the topic of a number of recent research reports. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI increased their price objective on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Stephens reissued an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $255.20.

Installed Building Products Stock Performance

Shares of IBP opened at $250.40 on Friday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 28.33 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. The stock has a 50 day moving average price of $227.39 and a 200 day moving average price of $227.48.

Installed Building Products (NYSE:IBP) last posted its earnings results 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 net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Research analysts predict that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is currently 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.