Handelsbanken Fonder AB Buys 1,500 Shares of Installed Building Products, Inc. (NYSE:IBP)

Handelsbanken Fonder AB boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 40.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,165 shares of the construction company’s stock after buying an additional 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Installed Building Products were worth $944,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its position in Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after buying an additional 53 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Installed Building Products during the 4th quarter valued at about $33,000. Asset Management One Co. Ltd. acquired a new position in Installed Building Products during the 4th quarter valued at about $121,000. CI Investments Inc. acquired a new position in Installed Building Products during the 3rd quarter valued at about $141,000. Finally, Strs Ohio increased its position in Installed Building Products by 40.0% during the 3rd quarter. Strs Ohio now owns 1,400 shares of the construction company’s stock valued at $174,000 after buying an additional 400 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IBP shares. DA Davidson started coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. Truist Financial increased their price objective on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Royal Bank of Canada increased their price objective on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered Installed Building Products from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insiders Place Their Bets

In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Michael Thomas Miller sold 5,000 shares of the firm’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 transaction, the chief financial officer now owns 38,320 shares in the company, valued at $9,324,788.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the firm’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 transaction, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,619 shares of company stock worth $1,606,732. 16.50% of the stock is owned by corporate insiders.

Installed Building Products Stock Up 1.9 %

Shares of IBP opened at $239.66 on Monday. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 27.84 and a beta of 1.89. The stock’s 50-day moving average price is $239.93 and its 200-day moving average price is $189.63.

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

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a dividend of $1.60 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a yield of 2.67%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio is currently 16.26%.

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.