Installed Building Products, Inc. $IBP Shares Newly Acquired by Willis Investment Counsel

Key Points

• Willis Investment Counsel initiated a position in Installed Building Products, purchasing 9,245 shares valued at approximately $1.77 million. Institutional investors collectively own 99.61% of the company.
• IBP reported quarterly earnings of $2.91 per share, exceeding estimates of $2.55, while revenue rose 2.3% year over year to $777.8 million. The company also pays a $0.39 quarterly dividend, yielding approximately 0.8%.
• Analysts remain cautious, with several firms lowering price targets; the stock carries a consensus “Hold” rating and an average target of $230.75.

Willis Investment Counsel bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,245 shares of the construction company's stock, valued at approximately $1,774,000.

Several other institutional investors have also recently added to or reduced their stakes in IBP. Legal & General Group Plc purchased a new position in shares of Installed Building Products during the second quarter worth approximately $12,305,000. WINTON GROUP Ltd acquired a new position in shares of Installed Building Products in the 2nd quarter valued at $1,180,000. Hsbc Holdings PLC purchased a new stake in Installed Building Products in the 2nd quarter valued at $20,435,000. Vaughan Nelson Investment Management L.P. raised its position in Installed Building Products by 3.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company's stock valued at $35,518,000 after purchasing an additional 5,042 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Installed Building Products in the 2nd quarter valued at $1,528,000. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded up $6.84 during trading hours on Tuesday, hitting $188.88. 165,460 shares of the company were exchanged, compared to its average volume of 401,309. Installed Building Products, Inc. has a 1 year low of $176.15 and a 1 year high of $349.00. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The business has a 50-day moving average of $214.64 and a 200-day moving average of $229.23. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 8.30 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. As a group, analysts expect that Installed Building Products, Inc. will post 9.86 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Installed Building Products's payout ratio is 16.79%.

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the transaction, 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 document filed with the SEC, which is available at this link. 13.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on IBP. Wells Fargo & Company lowered their price objective on shares of Installed Building Products from $240.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Friday. Truist Financial reduced their target price on shares of Installed Building Products from $200.00 to $160.00 and set a "hold" rating for the company in a report on Thursday, October 8th. Royal Bank Of Canada reduced their target price on shares of Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating for the company in a report on Wednesday, October 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, DA Davidson raised their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $230.75.

Installed Building Products Profile

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.

Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products, Inc. (NYSE:IBP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.