Hsbc Holdings PLC Grows Holdings in Installed Building Products, Inc. $IBP

Hsbc Holdings PLC raised its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 220.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,551 shares of the construction company's stock after purchasing an additional 61,576 shares during the quarter. Hsbc Holdings PLC owned 0.34% of Installed Building Products worth $20,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Installed Building Products by 9.7% during the 2nd quarter. Wellington Management Group LLP now owns 31,249 shares of the construction company's stock valued at $7,182,000 after purchasing an additional 2,775 shares during the period. Empowered Funds LLC bought a new position in shares of Installed Building Products in the second quarter worth about $544,000. Grandeur Peak Global Advisors LLC purchased a new stake in shares of Installed Building Products during the second quarter worth about $2,799,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Installed Building Products during the second quarter worth about $52,000. Finally, Corient Private Wealth LP bought a new stake in Installed Building Products during the 2nd quarter valued at approximately $1,174,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Evercore set a $246.00 target price on shares of Installed Building Products in a research note on Friday, August 7th. DA Davidson boosted their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Installed Building Products in a report on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $249.30.

Installed Building Products Stock Performance

Installed Building Products stock opened at $227.88 on Wednesday. The firm has a market capitalization of $6.06 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 4.47 and a beta of 1.71. The company's 50-day moving average is $234.21 and its 200 day moving average is $249.33. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41.

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

Installed Building Products Announces Dividend

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 dividend of $0.39 per share. 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 0.7%. Installed Building Products's dividend payout ratio (DPR) is 16.79%.

Insider Activity at Installed Building Products

In related news, Director Janet E. Jackson sold 1,086 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the sale, the director directly owned 5,142 shares of the company's stock, valued at $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Miller bought 990 shares of the business's stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The SEC filing for this purchase provides additional information. 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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