Illinois Municipal Retirement Fund Has $6.80 Million Stake in Installed Building Products, Inc. $IBP

Key Points

• Illinois Municipal Retirement Fund increased its stake in Installed Building Products by 39.8% in the first quarter, ending with 25,661 shares valued at about $6.8 million.
• Several other institutional investors also adjusted holdings in IBP, and the stock remains heavily institutionally owned, with 99.61% of shares held by institutions and hedge funds.
• The company reported weaker-than-expected quarterly results, with earnings per share of $1.79 versus the $1.96 estimate and revenue of $660.5 million below expectations, while Wall Street’s consensus rating is Hold.

Illinois Municipal Retirement Fund raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,661 shares of the construction company's stock after purchasing an additional 7,300 shares during the period. Illinois Municipal Retirement Fund owned 0.10% of Installed Building Products worth $6,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock valued at $2,423,000 after buying an additional 486 shares during the period. United Services Automobile Association acquired a new position in shares of Installed Building Products in the first quarter worth approximately $263,000. Jane Street Group LLC boosted its holdings in Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company's stock valued at $2,948,000 after acquiring an additional 12,545 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company's stock valued at $296,000 after acquiring an additional 92 shares during the last quarter. Finally, Jump Financial LLC increased its position in Installed Building Products by 959.6% during the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company's stock valued at $3,265,000 after purchasing an additional 16,400 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller purchased 2,400 shares of Installed Building Products stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the completion of the acquisition, the chief financial officer owned 33,219 shares of the company's stock, valued at $6,903,572.58. This trade represents a 7.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence A. Hilsheimer purchased 475 shares of Installed Building Products stock in a transaction on Monday, May 11th. The stock was bought at an average price of $206.22 per share, with a total value of $97,954.50. Following the completion of the acquisition, the director directly owned 28,468 shares of the company's stock, valued at approximately $5,870,670.96. This trade represents a 1.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 5,036 shares of company stock valued at $1,042,807 in the last ninety days. Insiders own 13.80% of the company's stock.

Installed Building Products Trading Down 2.9%

Shares of IBP stock opened at $228.61 on Friday. The company has a market cap of $6.16 billion, a P/E ratio of 24.37, a PEG ratio of 5.84 and a beta of 1.69. The stock has a 50 day simple moving average of $215.18 and a two-hundred day simple moving average of $266.36. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a fifty-two week low of $182.88 and a fifty-two week high of $349.00.

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

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products's payout ratio is presently 16.63%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a report on Friday, May 8th. DA Davidson reaffirmed a "neutral" rating and issued a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of 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. Finally, Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $247.67.

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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