Raymond James Financial Services Advisors Inc. increased its stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 59.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,212 shares of the construction company’s stock after buying an additional 1,940 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Installed Building Products were worth $731,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Installed Building Products by 25.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 958 shares of the construction company’s stock worth $109,000 after buying an additional 197 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Installed Building Products during the 1st quarter worth about $857,000. Boulder Hill Capital Management LP bought a new stake in shares of Installed Building Products during the 1st quarter worth about $821,000. Global Alpha Capital Management Ltd. boosted its holdings in Installed Building Products by 3.8% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 192,541 shares of the construction company’s stock valued at $21,955,000 after purchasing an additional 7,015 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Installed Building Products in the 1st quarter valued at about $11,075,000. Institutional investors own 82.62% of the company’s stock.
Installed Building Products Stock Performance
Shares of Installed Building Products stock opened at $108.92 on Monday. The company has a 50 day moving average of $127.17 and a 200-day moving average of $128.65. Installed Building Products, Inc. has a 1-year low of $74.69 and a 1-year high of $158.18. The company has a current ratio of 2.92, a quick ratio of 2.40 and a debt-to-equity ratio of 1.50. The company has a market cap of $3.09 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.82.
Installed Building Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Thursday, September 14th. Installed Building Products’s dividend payout ratio is 15.58%.
Insider Buying and Selling
In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $155.28, for a total transaction of $77,640.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,443 shares in the company, valued at approximately $845,189.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.30% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
IBP has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Installed Building Products from $111.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Truist Financial boosted their price objective on shares of Installed Building Products from $140.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. The Goldman Sachs Group boosted their price objective on shares of Installed Building Products from $142.00 to $158.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Jefferies Financial Group cut their price objective on shares of Installed Building Products from $166.00 to $140.00 in a report on Thursday, October 12th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Installed Building Products in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.50.
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.
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