Hsbc Holdings PLC Takes $20.43 Million Position in Installed Building Products, Inc. $IBP

Key Points

• Hsbc Holdings PLC acquired 89,551 shares of Installed Building Products, worth approximately $20.43 million, giving it a 0.34% stake. Institutional investors collectively own 99.61% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $249.30, despite mixed revisions to individual targets.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS and $777.8 million in revenue. The company also declared a quarterly dividend of $0.39 per share, representing a 0.6% annualized yield.

Hsbc Holdings PLC purchased a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 89,551 shares of the construction company's stock, valued at approximately $20,435,000. Hsbc Holdings PLC owned about 0.34% of Installed Building Products at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBP. BlackRock Inc. purchased a new stake in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Installed Building Products by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company's stock valued at $402,356,000 after purchasing an additional 328,725 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings 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 purchasing 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 approximately $37,924,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Installed Building Products in the 2nd quarter worth approximately $37,771,000. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stephens decreased their price target on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, May 11th. The Goldman Sachs Group reduced their target price on shares of Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Evercore set a $246.00 price target on shares of Installed Building Products in a research note on Friday, August 7th. Finally, DA Davidson upped their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $249.30.

Insiders Place Their Bets

In related news, CFO Michael Thomas Miller acquired 990 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $200.62 per share, with a total value 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 represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 13.80% of the stock is owned by insiders.

Installed Building Products Price Performance

IBP opened at $241.24 on Friday. The business has a fifty day moving average of $231.77 and a 200 day moving average of $254.83. The stock has a market cap of $6.41 billion, a P/E ratio of 25.97, a PEG ratio of 4.61 and a beta of 1.70. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00.

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. As a group, sell-side analysts anticipate that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.79%.

Installed Building Products Company Profile

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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