Callan Family Office LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,279 shares of the construction company’s stock, valued at approximately $4,661,000.
Several other hedge funds also recently made changes to their positions in IBP. MGO One Seven LLC lifted its position in shares of Installed Building Products by 3.1% during the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock valued at $294,000 after acquiring an additional 34 shares during the last quarter. Abel Hall LLC grew its holdings in shares of Installed Building Products by 2.8% in the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after acquiring an additional 35 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Installed Building Products by 2.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock worth $472,000 after purchasing an additional 35 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Installed Building Products by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock worth $860,000 after purchasing an additional 35 shares during the period. Finally, Petros Family Wealth LLC lifted its holdings in shares of Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock valued at $240,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.
Insider Buying and Selling at Installed Building Products
In related news, CFO Michael Thomas Miller purchased 990 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer owned 34,209 shares in the company, valued at $6,863,009.58. The trade was a 2.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.80% of the stock is owned by corporate insiders.
Installed Building Products Stock Up 0.9%
Installed Building Products (NYSE:IBP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. Sell-side analysts forecast that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.
Installed Building Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s payout ratio is currently 16.79%.
Wall Street Analyst Weigh In
IBP has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday. Evercore set a $246.00 price objective on shares of Installed Building Products in a research note on Friday, August 7th. Stephens decreased their target price on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Wells Fargo & Company dropped their target price on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $249.30.
Get Our Latest Research Report on IBP
Installed Building Products 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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