Legal & General Group Plc Lowers Stock Position in Installed Building Products, Inc. $IBP

Key Points

• Institutional ownership shift: Legal & General Group Plc cut its stake in Installed Building Products by 11.8% in the fourth quarter, though institutional investors still own about 99.6% of the stock overall.
• Analyst sentiment remains cautious: Several firms lowered price targets and kept neutral ratings, leaving IBP with a consensus rating of “Reduce” and an average target price of $247.67.
• Recent results and insider buying: IBP missed quarterly EPS and revenue estimates, but company insiders bought shares recently, and the firm announced a $0.39 quarterly dividend payable June 30.

Legal & General Group Plc decreased its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,206 shares of the construction company's stock after selling 7,884 shares during the quarter. Legal & General Group Plc owned about 0.22% of Installed Building Products worth $15,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Danske Bank A S purchased a new stake in shares of Installed Building Products in the third quarter valued at about $25,000. NewEdge Advisors LLC increased 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 acquiring an additional 100 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Installed Building Products during the 3rd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its position in Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock worth $37,000 after acquiring an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Installed Building Products in the 4th quarter valued at approximately $43,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBP. Wells Fargo & Company cut their price target on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Stephens reduced their target price on shares of Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Vertical Research raised shares of Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 target price on the stock in a report on Friday, February 27th. Truist Financial dropped their price target on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating on the stock in a research note on Friday, May 8th. Finally, Benchmark cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of "Reduce" and a consensus target price of $247.67.

Insiders Place Their Bets

In other news, insider Jason R. Niswonger purchased 455 shares of the company's stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the transaction, the insider directly owned 17,122 shares in the company, valued at $3,677,805.60. This represents a 2.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence A. Hilsheimer purchased 475 shares of the business's stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $206.22 per share, with a total value of $97,954.50. Following the purchase, the director directly owned 28,468 shares in the company, valued at approximately $5,870,670.96. The trade was a 1.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 4,046 shares of company stock valued at $844,194. Company insiders own 13.80% of the company's stock.

Installed Building Products Trading Up 1.1%

Shares of IBP opened at $204.00 on Wednesday. Installed Building Products, Inc. has a twelve month low of $158.46 and a twelve month high of $349.00. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $5.50 billion, a P/E ratio of 21.75, a PEG ratio of 4.98 and a beta of 1.71. The firm's 50-day moving average is $256.98 and its two-hundred day moving average is $277.63.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The firm had revenue of $660.50 million for the quarter, compared to analysts' expectations of $668.92 million. During the same period last year, the firm earned $2.08 EPS. Installed Building Products's revenue was down 3.5% compared to the same quarter last year. On average, research analysts predict that Installed Building Products, Inc. will post 9.62 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products's dividend payout ratio is 16.63%.

Installed Building Products Company Profile

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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