3,091 Shares in Installed Building Products, Inc. $IBP Acquired by State of Wyoming

State of Wyoming bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,091 shares of the construction company’s stock, valued at approximately $710,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBP. Price T Rowe Associates Inc. MD boosted its stake in shares of Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after acquiring an additional 328,725 shares during the last quarter. Giverny Capital Inc. increased its stake in shares of Installed Building Products by 0.9% in the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after purchasing an additional 4,500 shares in the last quarter. First Trust Advisors LP raised its holdings in Installed Building Products by 0.3% in the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after purchasing an additional 1,238 shares during the period. Goldman Sachs Group Inc. lifted its position in Installed Building Products by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after purchasing an additional 122,561 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Installed Building Products by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock valued at $91,045,000 after purchasing an additional 5,384 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP opened at $240.18 on Monday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.53 and a beta of 1.70. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The business has a 50-day moving average price of $225.16 and a 200-day moving average price of $258.55. Installed Building Products, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same quarter last year, the company earned $2.95 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Installed Building Products, Inc. will post 9.78 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is 16.79%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBP. Stephens decreased their price objective on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. Evercore set a $246.00 target price on shares of Installed Building Products in a research note on Friday, August 7th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Truist Financial dropped 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 research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $249.30.

Insider Activity

In related news, CFO Michael Thomas Miller acquired 990 shares of Installed Building Products stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is currently owned by insiders.

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.