Emerald Advisers LLC Sells 16,480 Shares of Installed Building Products, Inc. (NYSE:IBP)

Emerald Advisers LLC decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 23.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 53,237 shares of the construction company’s stock after selling 16,480 shares during the period. Emerald Advisers LLC’s holdings in Installed Building Products were worth $10,950,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IBP. Swedbank AB bought a new stake in Installed Building Products during the first quarter valued at $96,248,000. Norges Bank purchased a new stake in Installed Building Products during the fourth quarter valued at about $37,583,000. Price T Rowe Associates Inc. MD raised its position in Installed Building Products by 1,328.2% during 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 in the last quarter. Public Employees Retirement Association of Colorado raised its position in Installed Building Products by 3,919.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock valued at $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in Installed Building Products during the fourth quarter valued at about $15,317,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 0.4 %

Shares of NYSE:IBP opened at $204.47 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The company has a market cap of $5.82 billion, a PE ratio of 23.13 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The stock’s 50-day moving average is $224.05 and its 200 day moving average is $227.82.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results 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. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Sell-side analysts anticipate that Installed Building Products, Inc. will post 11.14 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given 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 0.68%. Installed Building Products’s payout ratio is 15.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IBP shares. Benchmark raised their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada raised 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. Evercore ISI raised their price target on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group lifted their price objective on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.