Alphasimplex Group LLC Buys Shares of 1,491 Installed Building Products, Inc. (NYSE:IBP)

Alphasimplex Group LLC bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBPGet Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,491 shares of the construction company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also modified their holdings of IBP. First Trust Advisors LP boosted its stake in Installed Building Products by 273.2% during the 1st quarter. First Trust Advisors LP now owns 57,557 shares of the construction company’s stock valued at $2,792,000 after purchasing an additional 42,136 shares during the last quarter. Morgan Stanley boosted its stake in Installed Building Products by 14.7% during the 2nd quarter. Morgan Stanley now owns 174,419 shares of the construction company’s stock valued at $21,342,000 after purchasing an additional 22,400 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in Installed Building Products by 29.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 7,979 shares of the construction company’s stock valued at $855,000 after purchasing an additional 1,807 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Installed Building Products by 0.4% during the 3rd quarter. Swiss National Bank now owns 52,433 shares of the construction company’s stock valued at $5,618,000 after buying an additional 200 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Installed Building Products by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 164,976 shares of the construction company’s stock valued at $17,677,000 after buying an additional 5,003 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.

Several research firms have recently weighed in on IBP. The Goldman Sachs Group lowered their price target on Installed Building Products from $114.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Credit Suisse Group began coverage on Installed Building Products in a report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Finally, BTIG Research decreased their target price on Installed Building Products from $124.00 to $108.00 in a report on Friday, May 6th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $115.50.

NYSE:IBP traded up $1.55 on Friday, reaching $89.08. 189,328 shares of the company’s stock traded hands, compared to its average volume of 257,014. The company has a quick ratio of 2.08, a current ratio of 2.57 and a debt-to-equity ratio of 2.13. The stock has a 50-day simple moving average of $87.76 and a 200-day simple moving average of $110.42. The firm has a market cap of $2.61 billion, a PE ratio of 19.49 and a beta of 1.78. Installed Building Products, Inc. has a 12 month low of $75.95 and a 12 month high of $141.43.

Installed Building Products (NYSE:IBPGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The construction company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.42. The business had revenue of $587.50 million for the quarter, compared to analysts’ expectations of $541.59 million. Installed Building Products had a return on equity of 45.84% and a net margin of 6.38%. The business’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Installed Building Products, Inc. will post 6.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.26 dividend on an annualized basis and a yield of 1.41%. Installed Building Products’s dividend payout ratio is presently 27.57%.

In other Installed Building Products news, Director Lawrence A. Hilsheimer purchased 513 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were acquired at an average cost of $97.30 per share, with a total value of $49,914.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.90% of the stock is owned by company insiders.

Installed Building Products Company Profile (Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

See Also

Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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