IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 1,778 Shares of Installed Building Products, Inc. (NYSE:IBP)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 25.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,347 shares of the construction company's stock after selling 1,778 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Installed Building Products were worth $1,100,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Installed Building Products by 12.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,967 shares of the construction company's stock worth $2,050,000 after buying an additional 1,086 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Installed Building Products by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company's stock worth $523,000 after buying an additional 63 shares in the last quarter. Meitav Investment House Ltd. bought a new position in shares of Installed Building Products during the second quarter worth about $2,304,000. Shaker Investments LLC OH grew its holdings in shares of Installed Building Products by 1.3% during the second quarter. Shaker Investments LLC OH now owns 9,465 shares of the construction company's stock worth $1,947,000 after buying an additional 119 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Installed Building Products by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company's stock worth $46,572,000 after buying an additional 4,943 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Installed Building Products from $242.00 to $227.00 and set a "neutral" rating for the company in a report on Monday, May 13th. Truist Financial increased their price target on Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on Installed Building Products from $201.00 to $203.00 and gave the company a "sector perform" rating in a research report on Friday, August 2nd. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.20.

Installed Building Products Stock Performance

Shares of IBP traded down $0.73 during mid-day trading on Thursday, reaching $220.09. The company's stock had a trading volume of 125,434 shares, compared to its average volume of 299,095. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $281.04. The stock has a market cap of $6.26 billion, a P/E ratio of 24.90 and a beta of 1.93. The business has a 50-day simple moving average of $222.57 and a two-hundred day simple moving average of $227.55. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24.

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

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.64%. Installed Building Products's payout ratio is currently 15.84%.

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.

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