Man Group plc Makes New $3.13 Million Investment in Installed Building Products, Inc. $IBP

Key Points

• Man Group plc purchased 13,638 shares of Installed Building Products worth approximately $3.13 million during the second quarter, while other institutional investors also initiated positions. Institutions and hedge funds collectively own 99.61% of IBP.
• Analysts have reduced their price targets, with the consensus target falling to $249.30 and the overall rating remaining “Hold.” JPMorgan’s target was cut to $195, while Wells Fargo, Stephens and Truist also lowered their targets.
• IBP shares opened at $242.22, down 1.4%, despite the company beating quarterly earnings and revenue estimates with $2.91 EPS and $777.8 million in revenue. The company also declared a quarterly dividend of $0.39 per share, equivalent to a 0.6% annual yield.

Man Group plc bought a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,638 shares of the construction company's stock, valued at approximately $3,135,000. Man Group plc owned approximately 0.05% of Installed Building Products at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IBP. Jupiter Topco LLC acquired a new position in Installed Building Products during the second quarter valued at approximately $2,433,000. Hsbc Holdings PLC bought a new position in shares of Installed Building Products in the 2nd quarter valued at $20,435,000. Canada Pension Plan Investment Board acquired a new position in shares of Installed Building Products during the 2nd quarter worth $524,000. Legal & General Group Plc bought a new stake in shares of Installed Building Products during the 2nd quarter worth $12,305,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Installed Building Products in the second quarter valued at about $2,734,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on IBP. Wells Fargo & Company lowered their target price 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 decreased their price target on shares of Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Truist Financial dropped their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research note on Friday, May 8th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $249.30.

Installed Building Products Trading Down 1.4%

Shares of NYSE IBP opened at $242.22 on Tuesday. The firm has a 50 day moving average price of $232.95 and a two-hundred day moving average price of $253.61. The stock has a market cap of $6.44 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.61 and a beta of 1.70. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

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

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 15th. Installed Building Products's payout ratio is 16.79%.

Insider Buying and Selling at Installed Building Products

In related news, CFO Michael Thomas Miller purchased 990 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.80% of the company's stock.

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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