Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 41.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,465 shares of the construction company's stock after acquiring an additional 2,500 shares during the quarter. Handelsbanken Fonder AB's holdings in Installed Building Products were worth $1,451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System lifted its position in shares of Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after acquiring an additional 56 shares during the period. McIlrath & Eck LLC lifted its stake in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. grew its holdings in Installed Building Products by 0.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock valued at $1,363,000 after buying an additional 71 shares during the last quarter. State of Wyoming increased its position in Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Installed Building Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock worth $439,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Trading Up 2.0%

Shares of IBP stock traded up $3.26 on Monday, reaching $168.32. 21,846 shares of the stock were exchanged, compared to its average volume of 343,914. The stock has a market cap of $4.65 billion, a P/E ratio of 18.71 and a beta of 1.73. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $164.37 and a two-hundred day moving average of $176.97.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). The business had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 EPS. On average, research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 13th. Installed Building Products's dividend payout ratio is presently 16.88%.

Analysts Set New Price Targets

A number of analysts recently commented on IBP shares. DA Davidson dropped their price objective on Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Truist Financial reduced their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research note on Monday, March 3rd. Loop Capital decreased their target price on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $212.45.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.