Deutsche Bank AG acquired a new stake in shares of 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 institutional investor acquired 84,148 shares of the construction company's stock, valued at approximately $19,341,000. Deutsche Bank AG owned approximately 0.31% of Installed Building Products at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Installed Building Products by 26.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company's stock valued at $402,356,000 after purchasing an additional 328,725 shares during the last quarter. Orion Porfolio Solutions LLC boosted 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 worth $30,996,000 after buying an additional 168,285 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Installed Building Products in the 2nd quarter valued at $37,771,000. Ameriprise Financial Inc. grew its holdings in Installed Building Products by 84.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company's stock valued at $49,893,000 after buying an additional 126,435 shares in the last quarter. Finally, Norges Bank purchased a new stake in Installed Building Products in the 4th quarter valued at $32,359,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Insider Transactions at Installed Building Products
In other news, CFO Michael Thomas Miller bought 990 shares of the business's stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.80% of the stock is currently owned by insiders.
Installed Building Products Stock Up 0.9%
Shares of NYSE:IBP opened at $246.88 on Friday. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 4.63 and a beta of 1.70. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The business has a 50-day moving average price of $229.30 and a 200 day moving average price of $257.12. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.
Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share 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 company had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter last year, the firm posted $2.95 earnings per share. Installed Building Products's revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Installed Building Products, Inc. will post 9.82 EPS for the current year.
Installed Building Products Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 15th. Installed Building Products's dividend payout ratio (DPR) is 16.79%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on IBP shares. Evercore set a $246.00 price target on Installed Building Products in a report on Friday, August 7th. Zacks Research raised shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Truist Financial cut their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research report on Friday, May 8th. Stephens decreased their target price on shares of Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Finally, DA Davidson increased their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $249.30.
Read Our Latest Research Report on IBP
Installed Building Products Company Profile
(
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.
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