US Bancorp DE Boosts Stock Position in Installed Building Products, Inc. (NYSE:IBP)

US Bancorp DE raised its position in Installed Building Products, Inc. (NYSE:IBP) by 148.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,809 shares of the construction company’s stock after buying an additional 1,678 shares during the period. US Bancorp DE’s holdings in Installed Building Products were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 valued at $683,421,000 after buying an additional 18,890 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Installed Building Products in the 1st quarter worth approximately $564,000. Swedbank AB raised its holdings in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after acquiring an additional 43,000 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Installed Building Products by 456.2% during the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after purchasing an additional 3,125 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

Shares of IBP stock opened at $210.26 on Friday. The company’s fifty day simple moving average is $231.09 and its 200-day simple moving average is $225.23. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a 52 week low of $121.83 and a 52 week high of $281.04. The company has a market cap of $5.94 billion, a PE ratio of 23.47 and a beta of 1.95.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). The company had revenue of $760.60 million during the quarter, compared to analysts’ expectations of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, equities research analysts anticipate that Installed Building Products, Inc. will post 11 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is 15.63%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Evercore ISI increased their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, DA Davidson dropped their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $252.30.

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.