Sone Capital Management LLC Purchases New Stake in Installed Building Products, Inc. $IBP

Sone Capital Management LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBPFree Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 4,692 shares of the construction company’s stock, valued at approximately $1,078,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MGO One Seven LLC lifted its position in shares of Installed Building Products by 3.1% during the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Abel Hall LLC increased its holdings in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after purchasing an additional 35 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Installed Building Products by 2.0% in 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 last quarter. Maryland State Retirement & Pension System increased its position in shares of Installed Building Products by 1.1% in 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 last quarter. Finally, Petros Family Wealth LLC grew its position in Installed Building Products by 4.6% in the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock worth $240,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Evercore set a $246.00 price objective on shares of Installed Building Products in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $249.30.

View Our Latest Stock Report on IBP

Installed Building Products Trading Down 0.7%

Installed Building Products stock opened at $245.00 on Tuesday. Installed Building Products, Inc. has a one year low of $193.11 and a one year high of $349.00. The business’s fifty day moving average is $230.02 and its 200 day moving average is $256.50. The stock has a market capitalization of $6.51 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 4.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41.

Installed Building Products (NYSE:IBPGet Free Report) last issued its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.Installed Building Products’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 EPS. On average, sell-side analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.39 dividend. The ex-dividend date 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%.

Insider Buying and Selling at Installed Building Products

In related news, CFO Michael Thomas Miller acquired 990 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.80% of the stock is owned by insiders.

About Installed Building Products

(Free Report)

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.

Further Reading

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

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