Interval Partners LP Acquires Shares of 61,987 Installed Building Products, Inc. (NYSE:IBP)

Interval Partners LP acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 61,987 shares of the construction company’s stock, valued at approximately $12,749,000. Interval Partners LP owned 0.22% of Installed Building Products as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products during the 1st quarter worth $29,000. Quarry LP increased its position in shares of Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after purchasing an additional 57 shares during the last quarter. C M Bidwell & Associates Ltd. raised its stake in shares of Installed Building Products by 1,393.8% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after purchasing an additional 223 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Installed Building Products by 58.7% in the 4th quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock valued at $48,000 after purchasing an additional 98 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

IBP stock opened at $239.19 on Monday. 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 capitalization of $6.80 billion, a price-to-earnings ratio of 27.06 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The stock’s fifty day moving average is $227.25 and its two-hundred day moving average is $227.15.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, research analysts predict that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.59%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research analyst reports. Truist Financial boosted their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their price objective on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Stephens reiterated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Finally, Evercore ISI increased their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price 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.