Installed Building Products (NYSE:IBP) Trading 8.2% Higher - Here's What Happened

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) shares traded up 8.2% during mid-day trading on Tuesday . The stock traded as high as $197.16 and last traded at $195.10. 239,033 shares changed hands during trading, a decline of 31% from the average session volume of 347,469 shares. The stock had previously closed at $180.32.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Loop Capital decreased their target price on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a report on Tuesday, April 1st. They set a "hold" rating and a $183.00 price objective on the stock. Finally, Benchmark dropped their target price 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $212.45.

Installed Building Products Stock Up 0.5%

The stock has a fifty day moving average of $167.00 and a two-hundred day moving average of $173.88. The company has a quick ratio of 2.31, a current ratio of 2.89 and a debt-to-equity ratio of 1.28. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 22.32 and a beta of 1.74.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.15). The firm had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 0.76%. Installed Building Products's dividend payout ratio is currently 16.88%.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. Curio Wealth LLC acquired a new stake in Installed Building Products in the 4th quarter valued at $30,000. UMB Bank n.a. grew its stake in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after buying an additional 108 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Installed Building Products by 74.6% during the 1st 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. McIlrath & Eck LLC raised its holdings in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after buying an additional 61 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

About Installed Building Products

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.