GAMMA Investing LLC Boosts Position in Installed Building Products, Inc. (NYSE:IBP)

GAMMA Investing LLC grew its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 35,416.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,060 shares of the construction company's stock after purchasing an additional 168,584 shares during the period. GAMMA Investing LLC owned approximately 0.61% of Installed Building Products worth $289,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in shares of Installed Building Products by 8.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company's stock valued at $923,000 after acquiring an additional 405 shares during the period. Principal Financial Group Inc. increased its position in shares of Installed Building Products by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company's stock worth $22,234,000 after acquiring an additional 4,467 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock valued at $64,000 after purchasing an additional 272 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Installed Building Products by 112.6% during the 4th quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock worth $26,949,000 after purchasing an additional 81,455 shares during the period. Finally, WCM Investment Management LLC boosted its position in shares of Installed Building Products by 49.7% during the fourth quarter. WCM Investment Management LLC now owns 91,415 shares of the construction company's stock worth $15,950,000 after buying an additional 30,364 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Price Performance

Shares of IBP traded up $3.56 during mid-day trading on Wednesday, reaching $167.68. The stock had a trading volume of 76,627 shares, compared to its average volume of 341,121. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The business has a fifty day moving average of $164.37 and a 200 day moving average of $179.98. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $281.04. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 18.63 and a beta of 1.85.

Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. During the same quarter last year, the business earned $2.47 earnings per share. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, June 13th. Installed Building Products's dividend payout ratio (DPR) is presently 16.88%.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research reports. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital dropped their price objective on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Truist Financial cut their target price on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $212.45.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.