Kornitzer Capital Management Inc. KS Takes Position in Installed Building Products, Inc. (NYSE:IBP)

Kornitzer Capital Management Inc. KS bought a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,500 shares of the construction company's stock, valued at approximately $5,230,000. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Installed Building Products at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC raised its stake in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after acquiring an additional 61 shares in the last quarter. Xponance Inc. raised its stake in shares of Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock worth $309,000 after acquiring an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after acquiring an additional 68 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Installed Building Products by 7.1% during the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock worth $194,000 after acquiring an additional 75 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of 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 acquiring an additional 77 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IBP. Loop Capital decreased 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They set a "hold" rating and a $183.00 price target on the stock. Finally, Benchmark decreased 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. Two equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $212.45.

Installed Building Products Trading Down 1.7%

NYSE:IBP traded down $3.30 during trading hours on Friday, hitting $188.47. The company had a trading volume of 54,775 shares, compared to its average volume of 348,053. The company has a market capitalization of $5.20 billion, a PE ratio of 21.45 and a beta of 1.74. The stock has a 50-day moving average price of $173.80 and a 200 day moving average price of $175.18. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $281.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.89 and a quick ratio of 2.31.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.15). The company had revenue of $684.80 million during the quarter, compared to the consensus estimate 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 was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. On average, equities research analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, June 13th. Installed Building Products's dividend payout ratio (DPR) is currently 16.88%.

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.