VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Installed Building Products, Inc. (NYSE:IBP – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,650 shares of the construction company’s stock, valued at approximately $1,528,000.
A number of other large investors have also recently bought and sold shares of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after buying an additional 486 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Installed Building Products during the 1st quarter worth about $263,000. Jane Street Group LLC increased its holdings in shares of Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after acquiring an additional 12,545 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock valued at $296,000 after acquiring an additional 92 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Installed Building Products by 959.6% in the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock valued at $3,265,000 after acquiring an additional 16,400 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.
Installed Building Products Price Performance
NYSE IBP opened at $204.89 on Friday. Installed Building Products, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The stock has a market capitalization of $5.45 billion, a PE ratio of 22.06, a P/E/G ratio of 3.78 and a beta of 1.71. The stock has a 50-day simple moving average of $232.95 and a 200 day simple moving average of $247.39.
Installed Building Products Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio is currently 16.79%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on IBP shares. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. DA Davidson increased their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Evercore set a $246.00 price target on shares of Installed Building Products in a research report on Friday, August 7th. Wells Fargo & Company decreased their price objective on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $248.30.
Check Out Our Latest Analysis on IBP
Insider Activity
In related news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.80% of the company’s stock.
About Installed Building Products
Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.
Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.
Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.
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