42,772 Shares in Installed Building Products, Inc. (NYSE:IBP) Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. acquired a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 42,772 shares of the construction company's stock, valued at approximately $7,820,000. Panagora Asset Management Inc. owned about 0.15% of Installed Building Products as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company's stock valued at $25,000 after purchasing an additional 101 shares during the period. NBC Securities Inc. purchased a new position in Installed Building Products during the fourth quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in shares of Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company's stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Annapolis Financial Services LLC raised its stake in shares of Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company's stock worth $31,000 after purchasing an additional 53 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Installed Building Products in the fourth quarter worth $32,000. 99.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a "buy" rating and a $275.00 price target for the company. Truist Financial lifted their price objective on Installed Building Products from $200.00 to $235.00 and gave the stock a "hold" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. cut their price objective on Installed Building Products from $242.00 to $227.00 and set a "neutral" rating for the company in a report on Monday, May 13th. Benchmark lifted their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Evercore ISI lifted their price objective on Installed Building Products from $226.00 to $272.00 and gave the stock an "outperform" rating in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.30.

Insider Activity

In other news, insider Jason R. Niswonger sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares of the company's stock, valued at approximately $3,024,464.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jason R. Niswonger sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares of the company's stock, valued at approximately $3,024,464.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brad A. Wheeler sold 1,119 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the sale, the chief operating officer now directly owns 6,679 shares of the company's stock, valued at $1,631,145.38. The disclosure for this sale can be found here. Insiders sold 12,619 shares of company stock valued at $2,985,772 in the last ninety days. Insiders own 16.50% of the company's stock.

Installed Building Products Price Performance

Shares of NYSE:IBP traded down $5.14 during mid-day trading on Friday, reaching $211.83. The stock had a trading volume of 464,293 shares, compared to its average volume of 306,881. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25. The company has a market cap of $6.03 billion, a P/E ratio of 23.96 and a beta of 1.91. Installed Building Products, Inc. has a 1 year low of $103.50 and a 1 year high of $263.76. The business's 50 day moving average price is $241.25 and its 200 day moving average price is $201.29.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $2.34 EPS. Research analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 14th. Installed Building Products's payout ratio is 15.84%.

Installed Building Products Profile

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.