Man Group plc Buys 64,291 Shares of Installed Building Products, Inc. (NYSE:IBP)

Man Group plc boosted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1,724.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,019 shares of the construction company's stock after buying an additional 64,291 shares during the quarter. Man Group plc owned approximately 0.24% of Installed Building Products worth $11,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Arizona State Retirement System grew its stake 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 worth $1,221,000 after acquiring an additional 56 shares during the period. Dana Investment Advisors Inc. boosted its position in Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after purchasing an additional 71 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock worth $439,000 after purchasing an additional 79 shares in the last quarter. Blue Trust Inc. raised its position in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock valued at $220,000 after purchasing an additional 92 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock valued at $617,000 after buying an additional 93 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Loop Capital reduced their price objective on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. Truist Financial decreased their price objective on 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. DA Davidson cut their target price on Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Benchmark decreased their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $212.45.

Installed Building Products Price Performance

Shares of IBP traded up $1.45 during trading hours on Thursday, reaching $155.44. 369,532 shares of the company's stock traded hands, compared to its average volume of 336,586. Installed Building Products, Inc. has a 12 month low of $150.94 and a 12 month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a market cap of $4.29 billion, a PE ratio of 17.27 and a beta of 1.85. The firm's 50 day simple moving average is $167.21 and its 200-day simple moving average is $183.66.

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 analysts' consensus estimates of $2.23 by ($0.15). The company had revenue of $684.80 million during the quarter, compared to analysts' expectations of $681.34 million. Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. Installed Building Products's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. Equities analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.95%. Installed Building Products's dividend payout ratio is presently 16.88%.

About Installed Building Products

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.