Boston Trust Walden Corp trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,829 shares of the construction company's stock after selling 57,376 shares during the quarter. Boston Trust Walden Corp owned approximately 0.64% of Installed Building Products worth $45,826,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. MGO One Seven LLC raised its stake in shares of Installed Building Products by 3.1% during the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company's stock worth $294,000 after purchasing an additional 34 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Installed Building Products by 2.6% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company's stock valued at $362,000 after buying an additional 35 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Installed Building Products by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company's stock worth $472,000 after buying an additional 35 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Installed Building Products by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company's stock worth $860,000 after buying an additional 35 shares during the last quarter. Finally, Petros Family Wealth LLC raised its position in Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company's stock valued at $240,000 after acquiring an additional 40 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.
Installed Building Products Price Performance
Installed Building Products stock opened at $228.13 on Friday. The firm has a market capitalization of $6.15 billion, a P/E ratio of 24.32, a PEG ratio of 5.56 and a beta of 1.69. Installed Building Products, Inc. has a 1 year low of $182.88 and a 1 year high of $349.00. The business has a 50-day moving average of $227.71 and a 200-day moving average of $269.49. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56.
Installed Building Products (NYSE:IBP - Get Free Report) last announced its 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). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. During the same period in the prior year, the business posted $2.08 EPS. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Installed Building Products, Inc. will post 9.57 EPS for the current year.
Installed Building Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.39 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products's payout ratio is 16.63%.
Insider Transactions at Installed Building Products
In related news, COO Brad A. Wheeler acquired 716 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the transaction, the chief operating officer directly owned 14,988 shares in the company, valued at $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason R. Niswonger purchased 455 shares of the business's stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the purchase, the insider directly owned 17,122 shares of the company's stock, valued at approximately $3,677,805.60. This represents a 2.73% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 5,036 shares of company stock valued at $1,042,807. Corporate insiders own 13.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Evercore set a $226.00 target price on shares of Installed Building Products in a research report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a report on Monday, May 11th. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Zacks Research cut shares of Installed Building Products from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Finally, Truist Financial decreased their price objective 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. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $247.67.
Check Out Our Latest Stock Report on IBP
About Installed Building Products
(
Free Report)
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.
Further Reading
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