Clearbridge Investments LLC Sells 2,154 Shares of Installed Building Products, Inc. (NYSE:IBP)

Clearbridge Investments LLC lessened its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,495 shares of the construction company’s stock after selling 2,154 shares during the quarter. Clearbridge Investments LLC owned about 0.42% of Installed Building Products worth $24,783,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products in the first quarter worth approximately $29,000. Quarry LP grew its holdings 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 worth $38,000 after acquiring an additional 57 shares during the period. C M Bidwell & Associates Ltd. increased 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 valued at $44,000 after acquiring an additional 223 shares during the last quarter. CWM LLC lifted its holdings in 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 acquiring an additional 62 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in 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 acquiring an additional 88 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. 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 report on Friday, August 2nd. Jefferies Financial Group raised their target price on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Truist Financial boosted their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $255.20.

Installed Building Products Price Performance

NYSE:IBP opened at $241.54 on Friday. The stock has a market cap of $6.87 billion, a PE ratio of 27.32 and a beta of 1.93. 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 business’s 50-day simple moving average is $227.28 and its two-hundred day simple moving average is $227.62. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04.

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

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, September 13th. Installed Building Products’s payout ratio 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.