Asset Management One Co. Ltd. Acquires New Holdings in Installed Building Products, Inc. (NYSE:IBP)

Asset Management One Co. Ltd. acquired a new stake in Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 650 shares of the construction company’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBP. McGlone Suttner Wealth Management Inc. purchased a new stake in Installed Building Products in the 4th quarter valued at about $33,000. Covestor Ltd raised its holdings in 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 buying an additional 308 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in Installed Building Products in the 4th quarter valued at about $49,000. Ronald Blue Trust Inc. raised its holdings in Installed Building Products by 117.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company’s stock valued at $66,000 after buying an additional 286 shares during the period. Finally, State of Wyoming grew its position in Installed Building Products by 24.4% in the 4th quarter. State of Wyoming now owns 913 shares of the construction company’s stock valued at $78,000 after acquiring an additional 179 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at $9,324,788.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock valued at $1,606,732 over the last three months. 17.30% of the stock is owned by corporate insiders.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $240.76 on Monday. Installed Building Products, Inc. has a one year low of $103.50 and a one year high of $263.76. The company has a market cap of $6.83 billion, a PE ratio of 27.96, a P/E/G ratio of 1.48 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The business has a 50-day simple moving average of $234.86 and a 200-day simple moving average of $181.98.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. On average, equities research analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.66%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s dividend payout ratio is 16.26%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Loop Capital raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. JPMorgan Chase & Co. downgraded Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Royal Bank of Canada lifted their target price on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Finally, Truist Financial lifted their target price on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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.