Kornitzer Capital Management Inc. KS acquired a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,500 shares of the construction company's stock, valued at approximately $5,230,000. Kornitzer Capital Management Inc. KS owned about 0.11% of Installed Building Products as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Curio Wealth LLC purchased a new position in shares of Installed Building Products during the fourth quarter worth $30,000. UMB Bank n.a. boosted its stake in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp grew its holdings in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after acquiring an additional 97 shares during the period. McIlrath & Eck LLC raised its position in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Installed Building Products during the fourth quarter valued at approximately $90,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Wall Street Analyst Weigh In
IBP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft started 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 objective on the stock. Loop Capital lowered their target price 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. Finally, Benchmark cut their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $212.45.
Check Out Our Latest Report on Installed Building Products
Installed Building Products Price Performance
IBP traded down $7.71 on Friday, reaching $184.06. 457,059 shares of the company's stock were exchanged, compared to its average volume of 349,051. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $281.04. The stock has a market cap of $5.08 billion, a PE ratio of 20.99 and a beta of 1.74. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.89 and a quick ratio of 2.31. The stock's fifty day moving average price is $174.26 and its 200-day moving average price is $175.24.
Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly 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 company had revenue of $684.80 million during the quarter, compared to analysts' expectations of $681.34 million. Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. Installed Building Products's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $2.47 earnings per share. Sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.
Installed Building Products Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, June 13th. Installed Building Products's payout ratio is currently 16.88%.
About Installed Building Products
(
Free Report)
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.
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