Emerald Investment Advisers LLC purchased a new position 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 Securities and Exchange Commission (SEC). The institutional investor purchased 24,898 shares of the construction company's stock, valued at approximately $5,723,000. Emerald Investment Advisers LLC owned about 0.09% of Installed Building Products as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of IBP. BlackRock Inc. acquired a new position in shares of Installed Building Products in the 2nd quarter valued at $1,055,034,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company's stock worth $402,356,000 after buying an additional 328,725 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of Installed Building Products by 4,659.1% in the 2nd 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 period. Paralel Advisors LLC purchased a new position in shares of Installed Building Products in the 2nd quarter worth $37,924,000. Finally, Bank of New York Mellon Corp acquired a new position in Installed Building Products in the second quarter valued at $37,771,000. Hedge funds and other institutional investors own 99.61% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on IBP. The Goldman Sachs Group lowered their price target on Installed Building Products from $331.00 to $285.00 and set a "buy" rating for the company 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday. Truist Financial decreased their target price 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. Finally, Evercore set a $246.00 target price on shares of Installed Building Products in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $249.30.
Check Out Our Latest Research Report on IBP
Insider Activity
In related news, CFO Michael Thomas Miller bought 990 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.80% of the company's stock.
Installed Building Products Stock Performance
NYSE:IBP opened at $246.88 on Friday. The firm's fifty day simple moving average is $229.30 and its 200 day simple moving average is $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, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 4.59 and a beta of 1.70.
Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The firm had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same period in the prior year, the firm earned $2.95 EPS. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.
Installed Building Products Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio is presently 16.79%.
Installed Building Products Company Profile
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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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