Kennedy Capital Management LLC Trims Stock Holdings in Installed Building Products, Inc. $IBP

Kennedy Capital Management LLC lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,371 shares of the construction company’s stock after selling 7,863 shares during the period. Kennedy Capital Management LLC owned 0.23% of Installed Building Products worth $11,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Inspire Advisors LLC boosted its stake in Installed Building Products by 1.3% in the 2nd quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company’s stock worth $874,000 after purchasing an additional 61 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Installed Building Products by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company’s stock worth $643,000 after purchasing an additional 70 shares in the last quarter. SRH Advisors LLC grew its holdings in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after purchasing an additional 85 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after purchasing an additional 92 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Installed Building Products by 0.9% in the second quarter. New York State Teachers Retirement System now owns 11,818 shares of the construction company’s stock valued at $2,131,000 after purchasing an additional 100 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research reports. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target for the company. in a research note on Tuesday, August 12th. Royal Bank Of Canada lifted their price objective on shares of Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, November 6th. Weiss Ratings raised Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Vertical Research assumed coverage on Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company started coverage on Installed Building Products in a report on Monday, November 17th. They issued an “equal weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $222.80.

Insiders Place Their Bets

In related news, insider William Jeffrey Hire sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the transaction, the insider owned 32,999 shares in the company, valued at $8,303,538.37. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the sale, the director directly owned 8,373 shares in the company, valued at approximately $2,246,308.44. The trade was a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by insiders.

Installed Building Products Stock Down 0.8%

IBP opened at $268.01 on Friday. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00. The company has a market cap of $7.27 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.97 and a beta of 1.90. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The business’s 50-day moving average price is $254.79 and its 200-day moving average price is $227.84.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.85 EPS. On average, equities analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. Installed Building Products’s payout ratio is presently 15.93%.

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.