Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Forge First Asset Management Inc.

Forge First Asset Management Inc. decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 96.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the construction company’s stock after selling 60,700 shares during the period. Forge First Asset Management Inc.’s holdings in Installed Building Products were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Installed Building Products by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock worth $140,974,000 after purchasing an additional 5,359 shares in the last quarter. Giverny Capital Inc. grew its stake in shares of Installed Building Products by 5.2% during the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock worth $83,261,000 after purchasing an additional 22,528 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Installed Building Products by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock worth $69,058,000 after purchasing an additional 15,220 shares in the last quarter. Channing Capital Management LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth $58,696,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Installed Building Products by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 244,399 shares of the construction company’s stock worth $44,681,000 after purchasing an additional 1,296 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of NYSE:IBP traded down $3.11 on Friday, reaching $240.54. The company’s stock had a trading volume of 249,598 shares, compared to its average volume of 376,171. The stock’s 50-day moving average is $213.68 and its two-hundred day moving average is $219.60. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $263.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. The stock has a market capitalization of $6.84 billion, a P/E ratio of 27.21 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. As a group, sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.58%. Installed Building Products’s payout ratio is 15.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Loop Capital boosted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. The Goldman Sachs Group reduced their price target on shares of Installed Building Products from $300.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research report on Friday, May 10th. Evercore ISI boosted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.70.

Insider Activity

In related news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the sale, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the sale, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

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.