Alberta Investment Management Corp Invests $592,000 in Installed Building Products, Inc. (NYSE:IBP)

Key Points

• Alberta Investment Management Corp purchased 3,453 shares of Installed Building Products, Inc. valued at approximately $592,000, indicating growing institutional interest in the company.
• The company's latest earnings report showed an earnings per share (EPS) of $2.08, which fell short of analyst expectations, highlighting a potential slowdown in performance as revenue decreased by 1.2% year-over-year.
• Installed Building Products recently declared a quarterly dividend of $0.37 per share, revealing a payout ratio of 16.88% and an annualized yield of 0.7%.

Alberta Investment Management Corp purchased a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,453 shares of the construction company's stock, valued at approximately $592,000.

Several other hedge funds have also recently modified their holdings of the business. FIL Ltd lifted its stake in shares of Installed Building Products by 14.0% during the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company's stock worth $182,091,000 after buying an additional 127,215 shares during the period. Geode Capital Management LLC increased its holdings in shares of Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company's stock valued at $111,053,000 after purchasing an additional 10,553 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Installed Building Products by 28.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock worth $90,905,000 after purchasing an additional 117,810 shares during the last quarter. Giverny Capital Inc. increased its position in shares of Installed Building Products by 3.6% during the 4th quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company's stock worth $88,455,000 after purchasing an additional 17,620 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Installed Building Products by 69.8% in the fourth quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock valued at $85,124,000 after purchasing an additional 199,657 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IBP. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a research note on Friday. Benchmark lowered their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Royal Bank Of Canada restated an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a report on Thursday. Finally, Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $213.90.

Installed Building Products Price Performance

NYSE:IBP traded down $0.29 during mid-day trading on Friday, reaching $254.92. 1,114,271 shares of the company were exchanged, compared to its average volume of 430,937. The stock has a market cap of $7.04 billion, a PE ratio of 28.94 and a beta of 1.73. The company has a quick ratio of 2.31, a current ratio of 2.89 and a debt-to-equity ratio of 1.28. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $263.20. The company has a fifty day moving average of $187.62 and a 200 day moving average of $177.83.

Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. The firm had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. During the same quarter in the previous year, the business posted $2.84 EPS. The business's quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.