9,245 Shares in Installed Building Products, Inc. $IBP Bought by Willis Investment Counsel

Willis Investment Counsel acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,245 shares of the construction company’s stock, valued at approximately $1,774,000.

Several other large investors have also recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in shares of Installed Building Products during the 3rd quarter worth $37,000. Goelzer Investment Management Inc. purchased a new position in shares of Installed Building Products in the 3rd quarter valued at about $245,000. Curated Wealth Partners LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $273,000. Summit Financial Strategies Inc. grew its position in Installed Building Products by 33.2% during the third quarter. Summit Financial Strategies Inc. now owns 6,914 shares of the construction company’s stock worth $1,327,000 after buying an additional 1,725 shares during the period. Finally, Reinhart Partners LLC. acquired a new stake in shares of Installed Building Products during the 3rd quarter valued at approximately $87,114,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IBP. Wells Fargo & Company cut their price target on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday. Royal Bank Of Canada lowered their price objective on shares of Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. Finally, Truist Financial reduced their price target on shares of Installed Building Products from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $230.75.

Get Our Latest Stock Report on Installed Building Products

Installed Building Products Price Performance

IBP stock traded up $6.84 during trading on Tuesday, hitting $188.88. The stock had a trading volume of 165,460 shares, compared to its average volume of 401,309. The company’s 50 day moving average price is $214.64 and its two-hundred day moving average price is $229.23. Installed Building Products, Inc. has a 1-year low of $176.15 and a 1-year high of $349.00. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 8.30 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP – Get Free Report) last released its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same period in the prior year, the firm earned $2.95 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 9.86 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products’s payout ratio is currently 16.79%.

Insider Buying and Selling at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction that occurred 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. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.80% of the stock is currently owned by corporate insiders.

Installed Building Products Company Profile

(Free Report)

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.

Further Reading

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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