Wedge Capital Management L L P NC Has $2.82 Million Stake in Installed Building Products, Inc. $IBP

Wedge Capital Management L L P NC lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 37.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,428 shares of the construction company’s stock after selling 6,918 shares during the period. Wedge Capital Management L L P NC’s holdings in Installed Building Products were worth $2,819,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC bought a new position in shares of Installed Building Products during the 1st quarter valued at $269,000. Russell Investments Group Ltd. raised its holdings in Installed Building Products by 14.5% during the first quarter. Russell Investments Group Ltd. now owns 7,758 shares of the construction company’s stock valued at $1,330,000 after buying an additional 980 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Installed Building Products by 0.4% in the first quarter. Raymond James Financial Inc. now owns 136,259 shares of the construction company’s stock worth $23,363,000 after buying an additional 592 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Installed Building Products by 15.4% during the 1st quarter. Northern Trust Corp now owns 320,859 shares of the construction company’s stock worth $55,014,000 after acquiring an additional 42,789 shares in the last quarter. Finally, Bahl & Gaynor Inc. acquired a new position in shares of Installed Building Products during the 1st quarter valued at about $785,000. 99.61% of the stock is owned by institutional investors.

Insider Transactions at Installed Building Products

In other news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the transaction, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director owned 8,373 shares of the company’s stock, valued at $2,246,308.44. This trade represents a 19.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 16.20% of the company’s stock.

Installed Building Products Stock Down 0.8%

IBP stock opened at $265.17 on Tuesday. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $293.53. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. The company has a market cap of $7.19 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 4.91 and a beta of 1.90. The business’s 50-day simple moving average is $261.26 and its 200 day simple moving average is $238.04.

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

Installed Building Products Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IBP shares. Zacks Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday. Vertical Research started coverage on shares of Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating for the company. Jefferies Financial Group raised their price target on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research report on Monday, December 15th. Finally, Royal Bank Of Canada increased their target price on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $226.20.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.