Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 51.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,703 shares of the construction company's stock after acquiring an additional 5,310 shares during the quarter. Rafferty Asset Management LLC owned 0.06% of Installed Building Products worth $2,752,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IBP. Barclays PLC raised its holdings in Installed Building Products by 61.9% in the third quarter. Barclays PLC now owns 97,711 shares of the construction company's stock valued at $24,063,000 after acquiring an additional 37,347 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Installed Building Products by 14.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company's stock valued at $528,000 after acquiring an additional 376 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Installed Building Products by 34.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company's stock valued at $245,000 after acquiring an additional 357 shares in the last quarter. Inspire Investing LLC raised its holdings in Installed Building Products by 30.4% in the fourth quarter. Inspire Investing LLC now owns 2,490 shares of the construction company's stock valued at $436,000 after acquiring an additional 580 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in 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 last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Performance

Shares of IBP opened at $161.53 on Tuesday. 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 firm has a market cap of $4.46 billion, a PE ratio of 17.95 and a beta of 1.85. The company's 50 day simple moving average is $167.71 and its 200-day simple moving average is $184.03. Installed Building Products, Inc. has a 12-month low of $151.27 and a 12-month high of $281.04.

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

Installed Building Products Dividend Announcement

The company 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 $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.92%. Installed Building Products's dividend payout ratio (DPR) is 16.88%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IBP shares. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital dropped their price target on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Benchmark dropped their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target on the stock. Finally, Truist Financial dropped their price target 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.