Y Intercept Hong Kong Ltd Buys New Position in Installed Building Products, Inc. $IBP

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Installed Building Products during the first quarter, buying 6,526 shares valued at about $1.73 million.
• Insider buying was also notable: CFO Michael Thomas Miller and COO Brad A. Wheeler both purchased shares in May, and insiders now own 13.8% of the company.
• Installed Building Products reported Q1 earnings of $1.79 per share, missing estimates, while revenue also came in below expectations and fell 3.5% year over year.

Y Intercept Hong Kong Ltd bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,526 shares of the construction company's stock, valued at approximately $1,730,000.

Several other institutional investors have also added to or reduced their stakes in the business. Petros Family Wealth LLC boosted its stake in shares of Installed Building Products by 4.6% during the 1st quarter. Petros Family Wealth LLC now owns 905 shares of the construction company's stock worth $240,000 after acquiring an additional 40 shares during the last quarter. James Investment Research Inc. grew its position in shares of Installed Building Products by 283.5% during the 1st quarter. James Investment Research Inc. now owns 6,420 shares of the construction company's stock valued at $1,702,000 after acquiring an additional 4,746 shares during the period. Inspire Investing LLC increased its stake in shares of Installed Building Products by 5.2% in the 1st quarter. Inspire Investing LLC now owns 2,350 shares of the construction company's stock worth $623,000 after purchasing an additional 117 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Installed Building Products by 9.8% in the 1st quarter. Apollon Wealth Management LLC now owns 1,936 shares of the construction company's stock worth $513,000 after purchasing an additional 172 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Installed Building Products by 5.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,501 shares of the construction company's stock worth $928,000 after purchasing an additional 172 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IBP shares. Truist Financial cut their price target on Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a report on Friday, May 8th. DA Davidson reaffirmed a "neutral" rating and issued a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st. JPMorgan Chase & Co. lowered their price objective on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings downgraded Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $247.67.

Insiders Place Their Bets

In other Installed Building Products news, CFO Michael Thomas Miller purchased 2,400 shares of the company's stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the purchase, the chief financial officer directly owned 33,219 shares of the company's stock, valued at $6,903,572.58. This trade represents a 7.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brad A. Wheeler acquired 716 shares of the business's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $209.13 per share, with a total value of $149,737.08. Following the completion of the acquisition, the chief operating officer owned 14,988 shares in the company, valued at approximately $3,134,440.44. This represents a 5.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is owned by company insiders.

Installed Building Products Price Performance

NYSE:IBP opened at $220.08 on Friday. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The business's 50-day simple moving average is $219.73 and its two-hundred day simple moving average is $267.98. The stock has a market cap of $5.93 billion, a PE ratio of 23.46, a P/E/G ratio of 5.33 and a beta of 1.69. Installed Building Products, Inc. has a 52 week low of $182.88 and a 52 week high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period last year, the company earned $2.08 EPS. The business's revenue was down 3.5% on a year-over-year basis. As a group, analysts forecast that Installed Building Products, Inc. will post 9.57 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products's payout ratio is currently 16.63%.

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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