Arizona State Retirement System Purchases 114 Shares of Installed Building Products, Inc. (NYSE:IBP)

Arizona State Retirement System boosted its position in Installed Building Products, Inc. (NYSE:IBP) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,750 shares of the construction company’s stock after acquiring an additional 114 shares during the period. Arizona State Retirement System’s holdings in Installed Building Products were worth $1,388,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IBP. International Assets Investment Management LLC bought a new stake in Installed Building Products in the 4th quarter worth $838,000. Truist Financial Corp bought a new stake in shares of Installed Building Products during the 4th quarter valued at about $578,000. Russell Investments Group Ltd. boosted its stake in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Installed Building Products by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 244,399 shares of the construction company’s stock valued at $44,681,000 after purchasing an additional 1,296 shares in the last quarter. Finally, Gryphon Financial Partners LLC bought a new stake in shares of Installed Building Products during the 4th quarter valued at about $214,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 2.4 %

Shares of NYSE IBP opened at $210.81 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The stock has a market cap of $6.00 billion, a P/E ratio of 23.85 and a beta of 1.93. The firm has a 50-day moving average of $224.40 and a 200 day moving average of $227.52. 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 issued its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 11.14 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 0.66%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Evercore ISI lifted their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group lifted their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $255.20.

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.