Maryland State Retirement & Pension System Sells 264 Shares of Installed Building Products, Inc. (NYSE:IBP)

Maryland State Retirement & Pension System lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,184 shares of the construction company’s stock after selling 264 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Installed Building Products were worth $1,683,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Installed Building Products during the 4th quarter valued at about $25,000. Russell Investments Group Ltd. grew its position in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after buying an additional 101 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products in the first quarter valued at approximately $29,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Installed Building Products in the fourth quarter valued at approximately $32,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 1.0 %

Shares of IBP traded up $2.22 during midday trading on Friday, hitting $222.31. The stock had a trading volume of 158,805 shares, compared to its average volume of 298,260. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 25.15 and a beta of 1.93. The company has a 50 day simple moving average of $223.06 and a two-hundred day simple moving average of $227.62. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.67.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. On average, analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio is presently 15.84%.

Wall Street Analyst Weigh In

A number of analysts have commented on IBP shares. Benchmark lifted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Royal Bank of Canada upped their price objective on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Evercore ISI increased their target price 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. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Stephens reaffirmed 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.20.

Installed Building Products 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.