Man Group plc Acquires 64,291 Shares of Installed Building Products, Inc. (NYSE:IBP)

Man Group plc grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 1,724.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,019 shares of the construction company’s stock after acquiring an additional 64,291 shares during the quarter. Man Group plc’s holdings in Installed Building Products were worth $11,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Curio Wealth LLC bought a new position in Installed Building Products in the fourth quarter worth $30,000. Smartleaf Asset Management LLC lifted its position in Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the period. Headlands Technologies LLC lifted its position in Installed Building Products by 819.0% in the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after purchasing an additional 647 shares during the period. Principal Securities Inc. lifted its position in Installed Building Products by 20.0% in the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after purchasing an additional 186 shares during the period. Finally, MGO One Seven LLC acquired a new position in Installed Building Products during the fourth quarter worth $205,000. 99.61% of the stock is owned by institutional investors.

Installed Building Products Price Performance

Installed Building Products stock opened at $165.96 on Monday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 18.44 and a beta of 1.85. Installed Building Products, Inc. has a 1 year low of $151.27 and a 1 year high of $281.04. The business has a 50-day moving average of $167.91 and a 200-day moving average of $184.41. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Installed Building Products’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, June 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.88%.

Wall Street Analyst Weigh In

IBP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research note on Tuesday, April 1st. They set a “hold” rating and a $183.00 price objective for the company. DA Davidson dropped their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Truist Financial cut their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Benchmark cut their price target on Installed Building Products from $210.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $212.45.

Installed Building Products Company 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.