Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 43.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,279 shares of the construction company’s stock after selling 3,350 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Installed Building Products were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Installed Building Products by 10.0% in the first quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after acquiring an additional 405,604 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Installed Building Products by 13.2% during the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after buying an additional 329,661 shares in the last quarter. Invesco Ltd. boosted its holdings in Installed Building Products by 0.3% during the first quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock worth $118,871,000 after buying an additional 4,335 shares in the last quarter. State Street Corp boosted its holdings in Installed Building Products by 3.7% during the second quarter. State Street Corp now owns 959,000 shares of the construction company’s stock worth $134,413,000 after buying an additional 34,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Installed Building Products by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 753,871 shares of the construction company’s stock worth $85,959,000 after buying an additional 1,977 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at approximately $1,675,596. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares in the company, valued at $9,324,788.80. The disclosure for this sale can be found here. Insiders have sold 6,619 shares of company stock worth $1,606,732 in the last ninety days. Insiders own 17.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Truist Financial raised their price objective on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada increased their target price on shares of Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products has an average rating of “Moderate Buy” and an average price target of $208.40.

Installed Building Products Stock Down 1.4 %

Installed Building Products stock opened at $237.46 on Tuesday. The company has a market capitalization of $6.75 billion, a P/E ratio of 27.58 and a beta of 1.89. Installed Building Products, Inc. has a 1-year low of $103.50 and a 1-year high of $263.76. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $235.72 and its 200-day simple moving average is $182.78.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. The firm had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. Sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 2.70%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

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.