Algert Global LLC Has $3.85 Million Holdings in Installed Building Products, Inc. $IBP

Key Points

• Algert Global increased its Installed Building Products stake by 771.9% in the second quarter, bringing its holdings to 16,740 shares valued at approximately $3.85 million. Institutional investors collectively own 99.61% of IBP.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and a $249.30 average price target. Recent target reductions placed objectives between $240 and $285.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS versus a $2.55 estimate and revenue of $777.8 million. The company also announced a quarterly dividend of $0.39 per share, representing a 0.6% yield.

Algert Global LLC increased its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 771.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,740 shares of the construction company's stock after acquiring an additional 14,820 shares during the quarter. Algert Global LLC owned about 0.06% of Installed Building Products worth $3,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBP. NewEdge Advisors LLC lifted its holdings in Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock valued at $25,000 after buying an additional 100 shares during the period. Danske Bank A S acquired a new stake in shares of Installed Building Products during the third quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in Installed Building Products in the 1st quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Installed Building Products in the second quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Installed Building Products by 700.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock valued at $37,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on IBP. Evercore set a $246.00 target price on shares of Installed Building Products in a report on Friday, August 7th. Wells Fargo & Company cut their price target on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group lowered their price objective on Installed Building Products from $331.00 to $285.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a report on Monday, May 11th. Finally, 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. 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $249.30.

Installed Building Products Stock Performance

Shares of IBP stock opened at $246.12 on Friday. The company's 50 day moving average is $232.34 and its 200 day moving average is $254.77. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.52 and a beta of 1.70. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00.

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

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 16.79%.

Insider Activity

In other news, CFO Michael Thomas Miller acquired 990 shares of Installed Building Products stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares in the company, valued at $6,863,009.58. This represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.80% of the company's stock.

Installed Building Products Profile

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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