Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Man Group plc

Man Group plc raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 1,724.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,019 shares of the construction company’s stock after acquiring an additional 64,291 shares during the quarter. Man Group plc owned 0.24% of Installed Building Products worth $11,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of IBP. Curio Wealth LLC purchased a new stake in Installed Building Products during the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC lifted its stake in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares in the last quarter. Headlands Technologies LLC lifted its stake in Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock valued at $127,000 after buying an additional 647 shares in the last quarter. Principal Securities Inc. lifted its stake in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after buying an additional 186 shares in the last quarter. Finally, MGO One Seven LLC purchased a new stake in Installed Building Products during the fourth quarter valued at about $205,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Trading Up 2.1%

NYSE:IBP opened at $165.96 on Monday. The stock’s 50 day moving average price is $167.91 and its 200 day moving average price is $184.41. Installed Building Products, Inc. has a 52 week low of $151.27 and a 52 week high of $281.04. The company has a market capitalization of $4.58 billion, a P/E ratio of 18.44 and a beta of 1.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter last year, the business earned $2.47 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 0.89%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.88%.

Wall Street Analyst Weigh In

A number of analysts have commented on IBP shares. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Loop Capital dropped their target price on Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Truist Financial dropped their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $212.45.

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.