Y Intercept Hong Kong Ltd bought a new position in Installed Building Products, Inc. (NYSE:IBP – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,526 shares of the construction company’s stock, valued at approximately $1,730,000.
Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after buying an additional 328,725 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Installed Building Products by 4,659.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock worth $30,996,000 after acquiring an additional 168,285 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Installed Building Products by 84.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock worth $49,893,000 after acquiring an additional 126,435 shares in the last quarter. Norges Bank bought a new position in shares of Installed Building Products during the 4th quarter valued at approximately $32,359,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Installed Building Products by 52.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after acquiring an additional 122,561 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.
Installed Building Products Price Performance
NYSE:IBP opened at $220.08 on Friday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 5.33 and a beta of 1.69. Installed Building Products, Inc. has a 1 year low of $182.88 and a 1 year high of $349.00. The business has a 50 day simple moving average of $219.73 and a 200-day simple moving average of $267.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76.
Installed Building Products Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.39 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.63%.
Insider Activity
In other news, insider Jason R. Niswonger acquired 455 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the transaction, the insider directly owned 17,122 shares of the company’s stock, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brad A. Wheeler acquired 716 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the transaction, the chief operating officer directly owned 14,988 shares of the company’s stock, valued at approximately $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 5,036 shares of company stock valued at $1,042,807 over the last ninety days. 13.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on IBP. Weiss Ratings lowered shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Zacks Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. DA Davidson reissued a “neutral” rating and issued a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st. Finally, Truist Financial reduced their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Reduce” and a consensus target price of $247.67.
View Our Latest Stock Report on IBP
Installed Building Products Company Profile
Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.
Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.
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