Liontrust Investment Partners LLP Cuts Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Liontrust Investment Partners LLP cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 94.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,005 shares of the construction company's stock after selling 90,484 shares during the period. Liontrust Investment Partners LLP's holdings in Installed Building Products were worth $1,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Shaker Investments LLC OH lifted its stake in shares of Installed Building Products by 1.3% during the 2nd quarter. Shaker Investments LLC OH now owns 9,465 shares of the construction company's stock valued at $1,947,000 after buying an additional 119 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company's stock valued at $46,572,000 after buying an additional 4,943 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Installed Building Products by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the construction company's stock valued at $2,427,000 after buying an additional 200 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at approximately $1,146,000. Finally, Blue Trust Inc. lifted its stake in shares of Installed Building Products by 456.2% during the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company's stock valued at $784,000 after buying an additional 3,125 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Installed Building Products Trading Down 1.6 %

Shares of NYSE IBP traded down $3.75 during midday trading on Tuesday, hitting $224.44. 197,245 shares of the company traded hands, compared to its average volume of 300,712. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $281.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.67 and a current ratio of 3.08. The stock has a 50-day moving average price of $221.94 and a 200 day moving average price of $227.65. The firm has a market cap of $6.38 billion, a P/E ratio of 25.39 and a beta of 1.93.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The business had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. As a group, analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.62%. Installed Building Products's dividend payout ratio is presently 15.84%.

Analyst Ratings Changes

Several analysts have issued reports on IBP shares. Truist Financial increased their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Stephens reaffirmed an "equal weight" rating and set a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Royal Bank of Canada lifted their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Installed Building Products from $242.00 to $227.00 and set a "neutral" rating on the stock in a research report on Monday, May 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and an average target price of $255.20.

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.