Quantitative Investment Management LLC Invests $583,000 in Installed Building Products, Inc. $IBP

Quantitative Investment Management LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,539 shares of the construction company’s stock, valued at approximately $583,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBP. BlackRock Inc. purchased a new position in shares of Installed Building Products in the 2nd quarter worth about $1,055,034,000. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 328,725 shares during the period. Bank of America Corp DE purchased a new stake in shares of Installed Building Products during the 2nd quarter worth about $62,418,000. Bamco Inc. NY acquired a new stake in Installed Building Products during the 2nd quarter worth approximately $45,580,000. Finally, Orion Porfolio Solutions LLC increased its position in Installed Building Products by 4,659.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock worth $30,996,000 after purchasing an additional 168,285 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller acquired 990 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is owned by corporate insiders.

Installed Building Products Stock Down 3.5%

Shares of NYSE:IBP opened at $234.29 on Wednesday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. The company has a 50 day moving average of $233.41 and a two-hundred day moving average of $252.90. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 earnings per share. As a group, analysts forecast that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio is presently 16.79%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBP. DA Davidson lifted their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. The Goldman Sachs Group cut their target price on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Truist Financial reduced their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Finally, Stephens decreased their price target on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $249.30.

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.