Canada Pension Plan Investment Board Sells 13,200 Shares of Installed Building Products, Inc. (NYSE:IBP)

Canada Pension Plan Investment Board lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 76.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,000 shares of the construction company's stock after selling 13,200 shares during the period. Canada Pension Plan Investment Board's holdings in Installed Building Products were worth $823,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Installed Building Products during the second quarter valued at approximately $581,000. Inspire Investing LLC lifted its holdings in shares of Installed Building Products by 16.9% during the 2nd quarter. Inspire Investing LLC now owns 1,923 shares of the construction company's stock valued at $396,000 after buying an additional 278 shares during the period. MQS Management LLC bought a new position in shares of Installed Building Products during the 2nd quarter valued at $280,000. Hsbc Holdings PLC boosted its stake in shares of Installed Building Products by 84.2% in the 2nd quarter. Hsbc Holdings PLC now owns 21,681 shares of the construction company's stock worth $4,408,000 after buying an additional 9,912 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Installed Building Products in the second quarter worth $2,386,000. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

NYSE IBP opened at $250.40 on Friday. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04. The business has a 50-day moving average price of $227.39 and a 200-day moving average price of $227.48. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 28.33 and a beta of 1.93.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to the consensus estimate 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 predict that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.56%. Installed Building Products's payout ratio is 15.84%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a research report on Friday, August 2nd. Evercore ISI upped their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an "outperform" rating in a report on Monday, July 15th. The Goldman Sachs Group lifted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. StockNews.com lowered Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, September 6th. Finally, Truist Financial lifted their target price 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and a consensus target price of $255.20.

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.