Louisiana State Employees Retirement System Invests $2.65 Million in Installed Building Products, Inc. $IBP

Key Points

• Louisiana State Employees Retirement System opened a new position in Installed Building Products, buying 10,000 shares worth about $2.65 million in the first quarter.
• Several other institutional investors also increased their stakes, and the stock remains overwhelmingly institutionally owned, with 99.61% held by hedge funds and other institutions.
• Installed Building Products reported Q1 earnings below expectations and analysts have turned more cautious, with a consensus rating of "Reduce" and an average target price of $247.67.

Louisiana State Employees Retirement System purchased a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the construction company's stock, valued at approximately $2,652,000.

Several other institutional investors also recently bought and sold shares of IBP. Bessemer Group Inc. grew its holdings in shares of Installed Building Products by 21.4% during the fourth quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company's stock valued at $31,973,000 after buying an additional 21,705 shares during the last quarter. Watchtower Advisors LP raised its holdings in Installed Building Products by 30.4% in the 3rd quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company's stock worth $7,961,000 after acquiring an additional 7,534 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Installed Building Products by 7.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 128,911 shares of the construction company's stock worth $33,438,000 after acquiring an additional 9,080 shares during the last quarter. SG Americas Securities LLC lifted its position in Installed Building Products by 107.3% in the 4th quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company's stock valued at $2,393,000 after acquiring an additional 4,777 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Installed Building Products by 2.4% during the 3rd quarter. First Trust Advisors LP now owns 399,510 shares of the construction company's stock valued at $98,543,000 after purchasing an additional 9,489 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on IBP shares. Weiss Ratings lowered Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Truist Financial dropped their price objective 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. The Goldman Sachs Group reduced their price objective on Installed Building Products from $331.00 to $285.00 and set a "buy" rating for the company in a report on Friday, May 8th. Evercore set a $226.00 target price on Installed Building Products in a research report on Friday, May 8th. Finally, Stephens lowered their target price on shares of Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $247.67.

Installed Building Products Stock Performance

IBP stock opened at $232.59 on Monday. The company has a market cap of $6.27 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 5.79 and a beta of 1.71. Installed Building Products, Inc. has a 1 year low of $176.93 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. The stock's fifty day moving average price is $233.58 and its 200-day moving average price is $270.89.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the firm earned $2.08 EPS. The business's revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products's dividend payout ratio (DPR) is presently 16.63%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, insider Jason R. Niswonger acquired 455 shares of the business's stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $214.80 per share, with a total value of $97,734.00. Following the transaction, the insider directly owned 17,122 shares in the company, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence A. Hilsheimer purchased 475 shares of the business's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $206.22 per share, with a total value of $97,954.50. Following the acquisition, the director directly owned 28,468 shares of the company's stock, valued at $5,870,670.96. This trade represents a 1.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 5,036 shares of company stock worth $1,042,807. 13.80% of the stock is owned by insiders.

Installed Building Products 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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