Intech Investment Management LLC Takes $581,000 Position in Installed Building Products, Inc. (NYSE:IBP)

Intech Investment Management LLC bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,826 shares of the construction company’s stock, valued at approximately $581,000.

A number of other large investors have also added to or reduced their stakes in IBP. Vanguard Group Inc. increased its position in shares of Installed Building Products by 0.7% during 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 period. Duality Advisers LP grew its position in shares of Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after buying an additional 3,389 shares during the period. Goodnow Investment Group LLC lifted its position in Installed Building Products by 28.9% during the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after acquiring an additional 20,737 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Installed Building Products during the 1st quarter valued at about $564,000. Finally, Swedbank AB boosted its stake in Installed Building Products by 11.6% during 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 in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBP. 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 report on Monday, July 15th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Finally, Jefferies Financial Group increased their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.20.

Installed Building Products Stock Performance

Shares of NYSE IBP opened at $244.89 on Friday. The firm’s 50-day moving average price is $227.19 and its 200-day moving average price is $227.39. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $281.04. The company has a market cap of $6.97 billion, a PE ratio of 27.70 and a beta of 1.93. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24.

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 analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. As a group, analysts anticipate that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.57%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.84%.

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.