Louisiana State Employees Retirement System Invests $2.65 Million in Installed Building Products, Inc. $IBP

Louisiana State Employees Retirement System acquired a new position in Installed Building Products, Inc. (NYSE:IBP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,000 shares of the construction company’s stock, valued at approximately $2,652,000.

Several other hedge funds have also recently made changes to their positions in IBP. NewEdge Advisors LLC raised its position in Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Danske Bank A S purchased a new stake in shares of Installed Building Products during the third quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Installed Building Products in the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after purchasing an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Installed Building Products during the 4th quarter worth $43,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Trading Down 0.3%

Installed Building Products stock opened at $232.59 on Monday. The firm has a market cap of $6.27 billion, a PE ratio of 24.80, a P/E/G ratio of 5.79 and a beta of 1.71. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The stock’s 50 day simple moving average is $233.58 and its two-hundred day simple moving average is $270.89. Installed Building Products, Inc. has a 12 month low of $176.93 and a 12 month high of $349.00.

Installed Building Products (NYSE:IBP) 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 net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. During the same period in the previous year, the firm posted $2.08 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts anticipate that Installed Building Products, Inc. will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.39 per share. The ex-dividend date is Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products’s dividend payout ratio is currently 16.63%.

Insider Activity at Installed Building Products

In other news, CFO Michael Thomas Miller acquired 2,400 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the purchase, the chief financial officer owned 33,219 shares in the company, valued at approximately $6,903,572.58. This represents a 7.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason R. Niswonger bought 455 shares of Installed Building Products stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $214.80 per share, with a total value of $97,734.00. Following the acquisition, the insider directly owned 17,122 shares of the company’s stock, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 5,036 shares of company stock worth $1,042,807 in the last quarter. Company insiders own 13.80% of the company’s stock.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, May 11th. Stephens reduced their price objective on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Zacks Research lowered Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Finally, Truist Financial decreased their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Reduce” and an average price target of $247.67.

Installed Building Products Company 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.