Baillie Gifford & Co. Invests $2.98 Million in Installed Building Products, Inc. (NYSE:IBP)

Baillie Gifford & Co. acquired a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,301 shares of the construction company's stock, valued at approximately $2,980,000. Baillie Gifford & Co. owned about 0.06% of Installed Building Products as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in Installed Building Products in the 4th quarter worth $33,000. Ronald Blue Trust Inc. grew its position in Installed Building Products by 117.2% during the third quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company's stock valued at $66,000 after buying an additional 286 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Installed Building Products in the fourth quarter worth approximately $49,000. Covestor Ltd boosted its position in shares of Installed Building Products by 112.4% in the first quarter. Covestor Ltd now owns 582 shares of the construction company's stock worth $49,000 after purchasing an additional 308 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in Installed Building Products during the fourth quarter valued at $121,000. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

NYSE IBP traded down $2.07 during trading on Friday, reaching $240.78. 187,189 shares of the company's stock were exchanged, compared to its average volume of 255,874. The business has a 50 day moving average price of $234.86 and a 200-day moving average price of $181.15. The stock has a market capitalization of $6.83 billion, a P/E ratio of 27.97, a PEG ratio of 1.48 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. Installed Building Products, Inc. has a fifty-two week low of $103.50 and a fifty-two week high of $263.76.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The business had revenue of $720.70 million during the quarter, compared to analysts' expectations of $688.59 million. During the same period in the previous year, the company posted $2.34 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a $1.60 dividend. This is a boost from Installed Building Products's previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, March 14th. Installed Building Products's dividend payout ratio (DPR) is currently 16.26%.

Analyst Ratings Changes

Several research analysts have issued reports on IBP shares. JPMorgan Chase & Co. cut shares of Installed Building Products from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $199.00 to $242.00 in a report on Wednesday, February 28th. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a research report on Friday, February 16th. DA Davidson started coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They issued a "buy" rating and a $275.00 price objective on the stock. Truist Financial boosted their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a "hold" rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Installed Building Products in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Insider Buying and Selling

In other news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares of the company's stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares of the company's stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Thomas Miller sold 5,000 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the sale, the chief financial officer now directly owns 38,320 shares of the company's stock, valued at $9,324,788.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock worth $1,606,732 in the last ninety days. Corporate insiders own 17.30% 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.