Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in Installed Building Products, Inc. (NYSE:IBP) by 7.4% during the second quarter, HoldingsChannel.com reports. The fund owned 51,624 shares of the construction company’s stock after acquiring an additional 3,569 shares during the period. Public Sector Pension Investment Board’s holdings in Installed Building Products were worth $10,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB boosted its stake in shares of Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after acquiring an additional 4,943 shares during the last quarter. Norges Bank acquired a new position in Installed Building Products during the fourth quarter worth $37,583,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after buying an additional 183,696 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Price Performance

IBP stock opened at $243.44 on Tuesday. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $6.92 billion, a PE ratio of 27.54 and a beta of 1.93. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $281.04. The business’s fifty day moving average price is $227.43 and its 200 day moving average price is $227.17.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) 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 return on equity of 44.93% and a net margin of 8.89%. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be issued 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 yield of 0.58%. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBP. The Goldman Sachs Group boosted their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Stephens reissued an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Royal Bank of Canada boosted their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note 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 has an average rating of “Hold” and an average target price of $255.20.

About Installed Building Products

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.