Installed Building Products, Inc. (NYSE:IBP) Position Reduced by Guinness Asset Management LTD

Guinness Asset Management LTD lowered its stake in Installed Building Products, Inc. (NYSE:IBP) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 106,221 shares of the construction company’s stock after selling 17,042 shares during the period. Guinness Asset Management LTD owned 0.37% of Installed Building Products worth $26,164,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IBP. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Installed Building Products by 23.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 13,600 shares of the construction company’s stock valued at $3,347,000 after buying an additional 2,600 shares in the last quarter. Williams & Novak LLC acquired a new stake in shares of Installed Building Products during the 3rd quarter valued at approximately $580,000. Diversified Trust Co lifted its stake in Installed Building Products by 56.6% during the third quarter. Diversified Trust Co now owns 3,164 shares of the construction company’s stock worth $779,000 after purchasing an additional 1,143 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Installed Building Products by 41.7% in the third quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after purchasing an additional 191 shares during the period. Finally, HBW Advisory Services LLC bought a new stake in Installed Building Products during the third quarter valued at $223,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $4.75 during midday trading on Friday, reaching $238.67. 150,726 shares of the company traded hands, compared to its average volume of 289,816. The stock has a 50-day moving average price of $225.08 and a 200 day moving average price of $227.13. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 27.00 and a beta of 1.94. 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 52 week low of $106.01 and a 52 week high of $281.04.

Installed Building Products (NYSE:IBP) last released 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. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Sell-side analysts anticipate that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were paid 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 of this dividend was Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBP. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group boosted their price objective on 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 increased their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Stephens reissued an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Six equities 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.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $255.40.

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.