Envestnet Asset Management Inc. Purchases 2,126 Shares of Installed Building Products, Inc. (NYSE:IBP)

Envestnet Asset Management Inc. grew its position in Installed Building Products, Inc. (NYSE:IBP – Get Rating) by 8.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,180 shares of the construction company’s stock after buying an additional 2,126 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Installed Building Products worth $2,412,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IBP. Covestor Ltd raised its position in shares of Installed Building Products by 112.4% in the 1st quarter. Covestor Ltd now owns 582 shares of the construction company’s stock valued at $49,000 after purchasing an additional 308 shares during the last quarter. Premier Fund Managers Ltd raised its position in shares of Installed Building Products by 57.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 1,683 shares of the construction company’s stock valued at $137,000 after purchasing an additional 611 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Installed Building Products in the 1st quarter valued at approximately $150,000. Cetera Investment Advisers purchased a new position in shares of Installed Building Products in the 1st quarter valued at approximately $207,000. Finally, Verition Fund Management LLC purchased a new position in shares of Installed Building Products in the 1st quarter valued at approximately $209,000. 77.90% of the stock is currently owned by institutional investors.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 13th. The shares were sold at an average price of $107.32, for a total value of $53,660.00. Following the sale, the chief accounting officer now owns 7,032 shares of the company’s stock, valued at approximately $754,674.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 13th. The shares were sold at an average price of $107.32, for a total value of $53,660.00. Following the sale, the chief accounting officer now owns 7,032 shares of the company’s stock, valued at approximately $754,674.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet E. Jackson sold 697 shares of Installed Building Products stock in a transaction on Friday, May 12th. The shares were sold at an average price of $115.26, for a total transaction of $80,336.22. Following the completion of the sale, the director now directly owns 8,413 shares in the company, valued at approximately $969,682.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,023 shares of company stock valued at $13,943,688. 17.90% of the stock is owned by company insiders.

Installed Building Products Price Performance

NYSE:IBP opened at $114.61 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.73 and a quick ratio of 2.19. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 13.71 and a beta of 1.69. The company has a 50 day moving average price of $113.08 and a 200-day moving average price of $102.04. Installed Building Products, Inc. has a 1-year low of $69.44 and a 1-year high of $125.87.

Installed Building Products (NYSE:IBP – Get Rating) last posted its earnings results on Wednesday, February 22nd. The construction company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.15. The firm had revenue of $686.49 million during the quarter, compared to analyst estimates of $682.28 million. Installed Building Products had a net margin of 8.71% and a return on equity of 57.73%. Equities research analysts forecast that Installed Building Products, Inc. will post 8 EPS for the current year.

Installed Building Products Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.15%. Installed Building Products’s dividend payout ratio is currently 15.79%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IBP shares. Stephens increased their price objective on shares of Installed Building Products from $115.00 to $132.00 in a research report on Monday, May 8th. StockNews.com assumed coverage on shares of Installed Building Products in a research report on Thursday. They set a “buy” rating for the company. Truist Financial raised their price target on shares of Installed Building Products from $125.00 to $140.00 in a research report on Monday, May 8th. BTIG Research assumed coverage on shares of Installed Building Products in a research report on Wednesday, May 3rd. They set a “neutral” rating for the company. Finally, Royal Bank of Canada raised shares of Installed Building Products from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $85.00 to $111.00 in a research report on Friday, May 5th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $117.14.

Installed Building Products Company Profile

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Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.