California Public Employees Retirement System Has $13.15 Million Holdings in Installed Building Products, Inc. $IBP

California Public Employees Retirement System raised its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 49,606 shares of the construction company's stock after acquiring an additional 4,943 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Installed Building Products worth $13,153,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock valued at $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Installed Building Products during the 1st quarter valued at $263,000. Jane Street Group LLC raised its stake in shares of Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company's stock valued at $2,948,000 after purchasing an additional 12,545 shares during the period. Hsbc Holdings PLC boosted its stake in Installed Building Products by 5.9% in the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company's stock worth $296,000 after purchasing an additional 92 shares during the period. Finally, Jump Financial LLC boosted its stake in Installed Building Products by 959.6% in the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company's stock worth $3,265,000 after purchasing an additional 16,400 shares during the period. Institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

IBP has been the subject of several research analyst reports. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Weiss Ratings downgraded shares of Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Evercore set a $226.00 target price on shares of Installed Building Products in a research report on Friday, May 8th. Wells Fargo & Company reduced their target price on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Finally, Stephens dropped their target price on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $247.67.

Insider Activity

In other news, COO Brad A. Wheeler purchased 716 shares of the business's stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $209.13 per share, with a total value of $149,737.08. Following the completion of the acquisition, the chief operating officer owned 14,988 shares of the company's stock, valued at $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Niswonger acquired 455 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $214.80 per share, with a total value of $97,734.00. Following the completion of the purchase, the insider directly owned 17,122 shares of the company's stock, valued at approximately $3,677,805.60. This trade represents a 2.73% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 5,036 shares of company stock valued at $1,042,807. Company insiders own 13.80% of the company's stock.

Installed Building Products Price Performance

NYSE:IBP opened at $227.55 on Friday. Installed Building Products, Inc. has a 12 month low of $193.11 and a 12 month high of $349.00. The company has a market capitalization of $6.13 billion, a P/E ratio of 24.26, a P/E/G ratio of 5.34 and a beta of 1.69. The business's 50-day moving average is $216.83 and its 200 day moving average is $265.00. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the business earned $2.08 earnings per share. Installed Building Products's revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products's payout ratio is presently 16.63%.

About Installed Building Products

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.