Allspring Global Investments Holdings LLC bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 112 shares of the construction company’s stock, valued at approximately $29,000.
A number of other institutional investors also recently added to or reduced their stakes in IBP. Channing Capital Management LLC bought a new stake in shares of Installed Building Products during the fourth quarter valued at about $58,696,000. Norges Bank bought a new stake in shares of Installed Building Products during the 4th quarter worth about $37,583,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Installed Building Products by 3,919.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after acquiring an additional 139,172 shares during the period. Clearbridge Investments LLC bought a new position in shares of Installed Building Products in the fourth quarter valued at approximately $15,317,000. Finally, New York State Common Retirement Fund increased its stake in shares of Installed Building Products by 732.3% during the fourth quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock valued at $15,427,000 after acquiring an additional 74,247 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.
Installed Building Products Stock Up 1.7 %
NYSE:IBP opened at $230.79 on Friday. The business’s fifty day moving average price is $213.22 and its 200 day moving average price is $217.82. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 26.11 and a beta of 1.93. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $263.76.
Installed Building Products (NYSE:IBP – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business had revenue of $692.90 million during the quarter, compared to analyst estimates of $676.60 million. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.
Installed Building Products Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.61%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.84%.
Insiders Place Their Bets
In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the director now directly owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.
Analyst Upgrades and Downgrades
IBP has been the subject of a number of research reports. Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Loop Capital boosted their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Evercore ISI raised their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lowered their price objective on shares of Installed Building Products from $300.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Moderate Buy” and an average price target of $233.70.
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.
Featured Articles
Receive News & Ratings for Installed Building Products Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Installed Building Products and related companies with MarketBeat.com’s FREE daily email newsletter.
