Rhumbline Advisers Acquires 485 Shares of Installed Building Products, Inc. (NYSE:IBP)

Rhumbline Advisers increased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 67,084 shares of the construction company’s stock after purchasing an additional 485 shares during the period. Rhumbline Advisers’ holdings in Installed Building Products were worth $13,798,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after buying an additional 18,890 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Installed Building Products by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock worth $140,974,000 after acquiring an additional 5,359 shares during the period. Giverny Capital Inc. boosted its holdings in Installed Building Products by 5.2% in the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock valued at $83,261,000 after acquiring an additional 22,528 shares during the last quarter. Swedbank AB increased its position in Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after purchasing an additional 43,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in 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 during the period. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IBP. Jefferies Financial Group boosted their price target 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. Benchmark upped their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Stephens reissued 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. Finally, Truist Financial raised their target price 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $255.20.

Installed Building Products Stock Performance

Shares of IBP opened at $207.12 on Wednesday. The stock has a 50-day moving average of $224.12 and a 200-day moving average of $227.87. Installed Building Products, Inc. has a one year low of $106.01 and a one year 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. The company has a market cap of $5.85 billion, a PE ratio of 23.43 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. On average, equities research analysts predict that Installed Building Products, Inc. will post 11.14 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed 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 0.68%. Installed Building Products’s payout ratio is 15.84%.

Installed Building Products Company 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.