Jupiter Topco LLC Buys Shares of 10,585 Installed Building Products, Inc. $IBP

Key Points

• Jupiter Topco LLC acquired 10,585 shares of Installed Building Products, valued at approximately $2.43 million. Institutional investors collectively own 99.61% of the company.
• Installed Building Products reported quarterly EPS of $2.91, beating estimates by $0.36, while revenue rose 2.3% year over year to $777.8 million. CFO Michael Thomas Miller also purchased 990 shares, increasing his holdings by 2.98%.
• The company declared a quarterly dividend of $0.39 per share, representing a $1.56 annualized payout and a 0.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $249.30.

Jupiter Topco LLC purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,585 shares of the construction company's stock, valued at approximately $2,433,000.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Danske Bank A S acquired a new position in Installed Building Products during the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in Installed Building Products in the 1st quarter worth about $30,000. Keating Financial Advisory Services Inc. bought a new position in Installed Building Products in the 2nd quarter worth about $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock valued at $37,000 after purchasing an additional 133 shares during the period. Institutional investors own 99.61% of the company's stock.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller bought 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is currently owned by insiders.

Installed Building Products Stock Performance

IBP opened at $235.60 on Thursday. The business has a 50 day moving average price of $233.66 and a two-hundred day moving average price of $252.21. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 4.39 and a beta of 1.71. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million for the quarter, compared to analysts' expectations of $743.33 million. During the same period last year, the firm earned $2.95 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products's dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a report on Monday, May 11th. Wells Fargo & Company decreased their price objective on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Truist Financial lowered their target price on Installed Building Products from $250.00 to $200.00 and set a "hold" rating on the stock in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Installed Building Products has an average rating of "Hold" and an average price target of $249.30.

About Installed Building Products

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.

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