NewEdge Wealth LLC Purchases Shares of 12,744 Installed Building Products, Inc. $IBP

Key Points

• NewEdge Wealth acquired 12,744 shares of Installed Building Products worth approximately $2.93 million, while institutional investors collectively own 99.61% of the company.
• Analysts maintain a consensus “Hold” rating with a $249.30 price target. IBP recently exceeded quarterly estimates, reporting $2.91 in EPS and $777.8 million in revenue, up 2.3% year over year.
• CFO Michael Thomas Miller purchased 990 shares, and the company declared a quarterly dividend of $0.39 per share, representing a $1.56 annualized payout and a 0.6% yield.

NewEdge Wealth LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,744 shares of the construction company's stock, valued at approximately $2,929,000.

Several other hedge funds also recently modified their holdings of the stock. MGO One Seven LLC increased its position in shares of Installed Building Products by 3.1% during the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company's stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company's stock valued at $342,000 after purchasing an additional 35 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Installed Building Products by 2.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company's stock valued at $472,000 after buying an additional 35 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Installed Building Products by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company's stock worth $860,000 after buying an additional 35 shares in the last quarter. Finally, Petros Family Wealth LLC raised its position in Installed Building Products by 4.6% in the 1st quarter. Petros Family Wealth LLC now owns 905 shares of the construction company's stock valued at $240,000 after buying an additional 40 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

IBP has been the subject of several analyst reports. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, May 11th. Evercore set a $246.00 price target on Installed Building Products in a research report on Friday, August 7th. DA Davidson boosted their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $249.30.

Insider Buying and Selling

In other news, CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company's stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 13.80% of the company's stock.

Installed Building Products Stock Down 2.1%

Shares of NYSE IBP opened at $244.42 on Friday. The firm's fifty day moving average is $228.50 and its 200 day moving average is $257.20. Installed Building Products, Inc. has a 52 week low of $193.11 and a 52 week high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 4.70 and a beta of 1.70.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same quarter in the prior year, the company earned $2.95 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Installed Building Products, Inc. will post 9.78 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is presently 16.79%.

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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