First Trust Direct Indexing L.P. Takes Position in Installed Building Products, Inc. (NYSE:IBP)

First Trust Direct Indexing L.P. acquired a new position in Installed Building Products, Inc. (NYSE:IBP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,450 shares of the construction company’s stock, valued at approximately $265,000.

A number of other large investors also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. raised its position in shares of Installed Building Products by 37.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 655,219 shares of the construction company’s stock valued at $81,830,000 after buying an additional 179,004 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Installed Building Products in the 3rd quarter worth approximately $18,661,000. Liontrust Investment Partners LLP raised its holdings in shares of Installed Building Products by 64.6% during the 3rd quarter. Liontrust Investment Partners LLP now owns 218,758 shares of the construction company’s stock worth $27,322,000 after acquiring an additional 85,892 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Installed Building Products by 732.3% during the 4th quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company’s stock worth $15,427,000 after acquiring an additional 74,247 shares in the last quarter. Finally, Guinness Asset Management LTD grew its holdings in shares of Installed Building Products by 216.7% in the third quarter. Guinness Asset Management LTD now owns 106,888 shares of the construction company’s stock valued at $13,346,000 after purchasing an additional 73,138 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 directly owns 38,320 shares in the company, valued at $9,324,788.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The disclosure for this sale can be found here. In the last three months, insiders sold 6,619 shares of company stock valued at $1,606,732. Corporate insiders own 16.50% of the company’s stock.

Installed Building Products Stock Down 4.8 %

NYSE:IBP opened at $237.07 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. Installed Building Products, Inc. has a 1-year low of $103.50 and a 1-year high of $263.76. The company has a 50-day moving average of $242.89 and a 200 day moving average of $195.90. The firm has a market cap of $6.74 billion, a PE ratio of 27.53 and a beta of 1.91.

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

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.70%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Analyst Ratings Changes

A number of brokerages have commented on IBP. JPMorgan Chase & Co. cut shares of Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Royal Bank of Canada boosted 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 raised their price target on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.