Royal London Asset Management Ltd. Has $19.99 Million Position in Installed Building Products, Inc. (NYSE:IBP)

Royal London Asset Management Ltd. cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,189 shares of the construction company’s stock after selling 24,350 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Installed Building Products were worth $19,990,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in Installed Building Products in the 4th quarter valued at about $7,820,000. Vanguard Group Inc. increased its stake in shares of Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the period. Duality Advisers LP lifted its holdings in Installed Building Products by 32.2% during the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after purchasing an additional 3,389 shares during the last quarter. Goodnow Investment Group LLC boosted its stake in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after purchasing an additional 20,737 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in Installed Building Products in the 1st quarter valued at $564,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Stephens reiterated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Jefferies Financial Group increased their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Stock Down 0.5 %

NYSE IBP opened at $205.75 on Thursday. The business has a fifty day moving average price of $224.28 and a two-hundred day moving average price of $227.68. The stock has a market capitalization of $5.85 billion, a PE ratio of 23.27 and a beta of 1.93. Installed Building Products, Inc. has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Equities analysts expect that Installed Building Products, Inc. will post 11.14 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.84%.

Installed Building Products 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.