Tower Research Capital LLC TRC Raises Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Tower Research Capital LLC TRC boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 25.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 958 shares of the construction company’s stock after acquiring an additional 197 shares during the period. Tower Research Capital LLC TRC’s holdings in Installed Building Products were worth $109,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Installed Building Products by 13.2% in the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after acquiring an additional 329,661 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Installed Building Products by 0.3% during the 1st quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock valued at $118,871,000 after buying an additional 4,335 shares in the last quarter. State Street Corp boosted its holdings in shares of Installed Building Products by 0.3% during the 1st quarter. State Street Corp now owns 878,995 shares of the construction company’s stock valued at $74,266,000 after buying an additional 2,594 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Installed Building Products by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 751,894 shares of the construction company’s stock valued at $64,364,000 after buying an additional 8,101 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Installed Building Products by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 419,906 shares of the construction company’s stock valued at $35,943,000 after buying an additional 12,753 shares in the last quarter. Institutional investors own 82.62% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research reports. Loop Capital boosted their target price on shares of Installed Building Products from $120.00 to $150.00 in a report on Friday, June 30th. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $118.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, July 13th. Seaport Res Ptn restated a “buy” rating on shares of Installed Building Products in a report on Tuesday, August 1st. Truist Financial upped their price target on shares of Installed Building Products from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Installed Building Products from $142.00 to $158.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $146.25.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $146.30 on Friday. Installed Building Products, Inc. has a fifty-two week low of $74.69 and a fifty-two week high of $158.18. The business has a 50-day simple moving average of $145.04 and a two-hundred day simple moving average of $125.05. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.40 and a current ratio of 2.92. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.06 and a beta of 1.78.

Installed Building Products (NYSE:IBP) last issued its earnings results on Wednesday, August 2nd. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.21. Installed Building Products had a return on equity of 53.06% and a net margin of 8.73%. The business had revenue of $692.10 million during the quarter, compared to analyst estimates of $667.03 million. On average, analysts expect that Installed Building Products, Inc. will post 8.37 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, September 14th. Installed Building Products’s dividend payout ratio (DPR) is 15.58%.

Insiders Place Their Bets

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 50,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $119.61, for a total value of $5,980,500.00. Following the completion of the transaction, the chief executive officer now owns 2,747,819 shares of the company’s stock, valued at approximately $328,666,630.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jeffrey W. Edwards sold 50,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $119.61, for a total transaction of $5,980,500.00. Following the completion of the sale, the chief executive officer now owns 2,747,819 shares of the company’s stock, valued at approximately $328,666,630.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $155.28, for a total transaction of $77,640.00. Following the sale, the chief accounting officer now directly owns 5,443 shares of the company’s stock, valued at approximately $845,189.04. The disclosure for this sale can be found here. 17.30% of the stock is owned by insiders.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.