Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Joseph Group Capital Management

Joseph Group Capital Management raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,831 shares of the construction company's stock after buying an additional 3,983 shares during the quarter. Joseph Group Capital Management owned about 0.06% of Installed Building Products worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in IBP. First Trust Advisors LP boosted its position in Installed Building Products by 69.8% during the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock valued at $85,124,000 after acquiring an additional 199,657 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Installed Building Products by 35,416.8% in the first quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock worth $289,870,000 after acquiring an additional 168,584 shares during the period. Norges Bank purchased a new position in Installed Building Products during the fourth quarter worth approximately $28,509,000. T. Rowe Price Investment Management Inc. raised its position in Installed Building Products by 87.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock worth $59,249,000 after acquiring an additional 158,173 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Installed Building Products in the 4th quarter worth about $23,776,000. Institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

IBP has been the topic of several analyst reports. Loop Capital reduced their price target on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Benchmark lowered their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $212.45.

Installed Building Products Trading Down 0.7%

Shares of Installed Building Products stock traded down $1.33 during trading hours on Monday, reaching $199.26. The stock had a trading volume of 282,093 shares, compared to its average volume of 404,705. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $281.04. The firm has a 50 day simple moving average of $171.57 and a two-hundred day simple moving average of $174.66. The company has a current ratio of 2.89, a quick ratio of 2.31 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 22.72 and a beta of 1.74.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 8.39% and a return on equity of 60.73%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. As a group, equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, June 13th. Installed Building Products's dividend payout ratio (DPR) is presently 16.88%.

Installed Building Products 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.