Emerald Advisers LLC Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Emerald Advisers LLC cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 23.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,237 shares of the construction company’s stock after selling 16,480 shares during the quarter. Emerald Advisers LLC owned 0.19% of Installed Building Products worth $10,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IBP. NBC Securities Inc. purchased a new stake in shares of Installed Building Products in the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. increased its position in shares of Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products during the first quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its position in shares of Installed Building Products by 37.5% during the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after acquiring an additional 57 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE:IBP opened at $204.47 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The business has a fifty day simple moving average of $224.05 and a two-hundred day simple moving average of $227.82. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The company has a market capitalization of $5.82 billion, a P/E ratio of 23.13 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last posted 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. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The firm had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. On average, analysts expect that Installed Building Products, Inc. will post 11.14 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBP. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. The Goldman Sachs Group increased their price target 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. Evercore ISI increased their price target on 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, JPMorgan Chase & Co. decreased their target price on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $255.20.

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.