VELA Investment Management LLC bought a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,281 shares of the construction company's stock, valued at approximately $563,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after buying an additional 97 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Installed Building Products by 8.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company's stock valued at $923,000 after buying an additional 405 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock valued at $64,000 after buying an additional 272 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Installed Building Products by 112.6% in the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock valued at $26,949,000 after buying an additional 81,455 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Installed Building Products in the fourth quarter valued at approximately $1,621,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on IBP. Benchmark cut their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a research note on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price for the company. Finally, Loop Capital cut their target price on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $212.45.
Get Our Latest Analysis on IBP
Installed Building Products Price Performance
Shares of IBP traded down $0.92 during trading hours on Friday, reaching $194.58. The stock had a trading volume of 223,710 shares, compared to its average volume of 351,335. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $281.04. The stock has a market capitalization of $5.37 billion, a PE ratio of 22.19 and a beta of 1.74. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.31 and a current ratio of 2.89. The company's 50-day moving average is $168.62 and its two-hundred day moving average is $173.99.
Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The firm had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. During the same quarter in the previous year, the company posted $2.47 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. Research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.
Installed Building Products Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.76%. Installed Building Products's payout ratio is 16.88%.
About Installed Building Products
(
Free Report)
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.
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