Walleye Capital LLC Acquires New Stake in Installed Building Products, Inc. $IBP

Walleye Capital LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 14,244 shares of the construction company’s stock, valued at approximately $3,777,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Danske Bank A S acquired a new position in Installed Building Products in the 3rd quarter valued at about $25,000. NewEdge Advisors LLC lifted its position in shares of Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Installed Building Products during the first quarter worth about $30,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchased a new position in shares of Installed Building Products in the fourth quarter valued at approximately $43,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a report on Monday, May 11th. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings cut shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Evercore set a $226.00 price target on shares of Installed Building Products in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. cut 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. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $247.67.

Installed Building Products Stock Performance

Shares of IBP opened at $224.91 on Thursday. The stock has a 50-day simple moving average of $216.32 and a 200-day simple moving average of $265.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. The stock has a market capitalization of $6.06 billion, a PE ratio of 23.98, a PEG ratio of 5.32 and a beta of 1.69. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00.

Installed Building Products (NYSE:IBP) last released its earnings results 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 firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. During the same quarter in the previous year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products’s payout ratio is 16.63%.

Insider Activity

In other news, COO Brad A. Wheeler acquired 716 shares of the company’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 transaction, the chief operating officer owned 14,988 shares in the company, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason R. Niswonger acquired 455 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the acquisition, the insider directly owned 17,122 shares in the company, valued at approximately $3,677,805.60. This represents a 2.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 5,036 shares of company stock worth $1,042,807. Insiders own 13.80% of the company’s stock.

About Installed Building Products

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.