Ausbil Investment Management Ltd Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Ausbil Investment Management Ltd lowered its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 39.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,540 shares of the construction company's stock after selling 4,859 shares during the period. Ausbil Investment Management Ltd's holdings in Installed Building Products were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB acquired a new position in shares of Installed Building Products during the 1st quarter worth about $96,248,000. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock valued at $51,107,000 after purchasing an additional 183,696 shares during the last quarter. Millennium Management LLC raised its holdings in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company's stock worth $29,446,000 after purchasing an additional 114,259 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Installed Building Products by 2,912.0% during the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company's stock worth $15,488,000 after buying an additional 72,800 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Installed Building Products in the 1st quarter valued at $17,806,000. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on IBP shares. The Goldman Sachs Group upped their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Tuesday. Stephens reiterated an "equal weight" rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Truist Financial lifted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of "Moderate Buy" and an average target price of $254.40.

Installed Building Products Stock Performance

NYSE IBP traded up $3.54 during trading hours on Thursday, hitting $230.62. 198,962 shares of the stock were exchanged, compared to its average volume of 288,259. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $230.14 and a 200 day moving average of $226.34. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 26.20 and a beta of 1.94. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to analysts' expectations of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were given a $0.35 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.61%. Installed Building Products's dividend payout ratio is presently 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.