Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Guinness Atkinson Asset Management Inc

by · The Markets Daily

Guinness Atkinson Asset Management Inc lessened its position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,156 shares of the construction company’s stock after selling 79 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Installed Building Products were worth $1,023,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products in the first quarter valued at approximately $29,000. Quarry LP increased its stake in shares of Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after acquiring an additional 57 shares during the period. CWM LLC raised its holdings in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Headlands Technologies LLC acquired a new position in Installed Building Products during the first quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after purchasing an additional 88 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Evercore ISI raised their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday. Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $255.40.

Check Out Our Latest Stock Report on Installed Building Products

Installed Building Products Trading Up 2.0 %

NYSE IBP traded up $4.75 during trading on Friday, hitting $238.67. The stock had a trading volume of 150,726 shares, compared to its average volume of 289,816. The company has a market capitalization of $6.79 billion, a PE ratio of 27.00 and a beta of 1.94. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04. 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 firm has a 50 day moving average price of $225.08 and a 200 day moving average price of $227.13.

Installed Building Products (NYSE:IBP – Get Free Report) last announced its 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. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Installed Building Products Company Profile

(Free Report)

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.

Further Reading

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