Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 55.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,787 shares of the construction company’s stock after selling 23,048 shares during the period. Sei Investments Co. owned 0.07% of Installed Building Products worth $3,865,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products during the first quarter worth about $29,000. Quarry LP increased its holdings in Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after acquiring an additional 57 shares in the last quarter. C M Bidwell & Associates Ltd. raised its position in Installed Building Products by 1,393.8% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock worth $44,000 after acquiring an additional 223 shares during the last quarter. CWM LLC lifted its holdings in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after purchasing an additional 88 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBP has been the subject of several research reports. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. 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. Stephens reissued an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group raised 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. Finally, Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Trading Down 0.5 %

Shares of IBP stock opened at $245.65 on Thursday. The firm’s 50-day simple moving average is $227.31 and its 200-day simple moving average is $227.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $281.04. The firm has a market cap of $6.99 billion, a P/E ratio of 27.79 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping 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 company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. As a group, equities analysts forecast that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, September 13th. Installed Building Products’s payout ratio is currently 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.