The Manufacturers Life Insurance Company Takes Position in Installed Building Products, Inc. $IBP

Key Points

• The Manufacturers Life Insurance Company acquired 11,896 shares of Installed Building Products valued at approximately $2.7 million. Institutional investors and hedge funds collectively own 99.61% of IBP’s outstanding stock.
• Analysts maintain a largely cautious outlook, with an average rating of “Hold” and an average price target of $249.30. Wells Fargo and Stephens recently lowered their price targets to $250 and $240, respectively.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS and $777.8 million in revenue, while revenue increased 2.3% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 0.7% yield.

The Manufacturers Life Insurance Company acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,896 shares of the construction company's stock, valued at approximately $2,734,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock worth $2,423,000 after acquiring an additional 486 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Installed Building Products during the 1st quarter valued at about $263,000. Jane Street Group LLC grew its holdings in shares of Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company's stock valued at $2,948,000 after purchasing an additional 12,545 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company's stock valued at $296,000 after purchasing an additional 92 shares during the period. Finally, Jump Financial LLC increased its position in Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company's stock worth $3,265,000 after purchasing an additional 16,400 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBP shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Wells Fargo & Company dropped their price target on shares of 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 cut their price target on shares of Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a research report on Monday, May 11th. Finally, Evercore set a $246.00 price objective on Installed Building Products in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and an average target price of $249.30.

Installed Building Products Stock Up 0.6%

Shares of IBP opened at $235.60 on Thursday. The firm has a market cap of $6.26 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 4.39 and a beta of 1.71. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The company's 50-day moving average price is $233.66 and its 200 day moving average price is $252.21. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP - Get Free Report) last posted 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 net margin of 8.46% and a return on equity of 42.12%. The company had revenue of $777.80 million for the quarter, compared to analysts' expectations of $743.33 million. During the same quarter in the prior year, the company posted $2.95 earnings per share. Installed Building Products's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 9.82 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 15th. Installed Building Products's dividend payout ratio is currently 16.79%.

About Installed Building Products

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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