Grandeur Peak Global Advisors LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,180 shares of the construction company’s stock, valued at approximately $2,799,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Installed Building Products during the second quarter valued at $1,055,034,000. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after purchasing an additional 328,725 shares in the last quarter. Bank of America Corp DE acquired a new stake in Installed Building Products during the 2nd quarter worth about $62,418,000. Bamco Inc. NY purchased a new stake in Installed Building Products during the second quarter valued at about $45,580,000. Finally, Orion Porfolio Solutions LLC lifted its stake in Installed Building Products by 4,659.1% during the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock valued at $30,996,000 after buying an additional 168,285 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Installed Building Products
In other news, CFO Michael Thomas Miller purchased 990 shares of Installed Building Products stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. This represents a 2.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by corporate insiders.
Installed Building Products Stock Down 1.9%
Installed Building Products (NYSE:IBP – Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same quarter last year, the firm posted $2.95 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.
Installed Building Products Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on IBP shares. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $246.00 price target on shares of Installed Building Products in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, DA Davidson increased their target price on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $249.30.
View Our Latest Stock Report on IBP
About Installed Building Products
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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