California State Teachers Retirement System Has $7.15 Million Position in Installed Building Products, Inc. $IBP

Key Points

• California State Teachers Retirement System increased its Installed Building Products stake by 21.9% in the first quarter, bringing its holdings to 26,957 shares valued at approximately $7.15 million. Institutional investors and hedge funds collectively own 99.61% of the company.
• Installed Building Products reported quarterly EPS of $1.79, below the $1.96 consensus estimate, while revenue fell 3.5% year over year to $660.5 million. Analysts expect full-year EPS of approximately $9.57.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $247.67. Several firms recently cut their targets, although company insiders purchased 5,036 shares worth about $1.04 million over the past three months.

California State Teachers Retirement System grew its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,957 shares of the construction company's stock after acquiring an additional 4,843 shares during the quarter. California State Teachers Retirement System owned 0.10% of Installed Building Products worth $7,148,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Danske Bank A S bought a new position in shares of Installed Building Products during the third quarter worth $25,000. NewEdge Advisors LLC increased its position in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock valued at $25,000 after buying an additional 100 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Installed Building Products in the 1st quarter valued at $30,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock valued at $37,000 after buying an additional 133 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Installed Building Products by 446.7% during the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company's stock worth $44,000 after buying an additional 134 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

NYSE IBP opened at $242.03 on Thursday. The firm's 50 day moving average is $219.68 and its 200-day moving average is $261.53. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $6.52 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 5.70 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.

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

Analyst Upgrades and Downgrades

IBP has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Truist Financial lowered their price target on Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a report on Friday, May 8th. Wells Fargo & Company dropped their price target on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a research report 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, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $247.67.

Insider Buying and Selling

In related news, COO Brad A. Wheeler acquired 716 shares of the company's stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the purchase, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence A. Hilsheimer acquired 475 shares of the business's stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $206.22 per share, with a total value of $97,954.50. Following the acquisition, the director owned 28,468 shares in the company, valued at $5,870,670.96. The trade was a 1.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 5,036 shares of company stock worth $1,042,807 in the last three months. Insiders own 13.80% of the company's stock.

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.

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