Benjamin F. Edwards & Company Inc. Takes Position in Installed Building Products, Inc. (NYSE:IBP)

Benjamin F. Edwards & Company Inc. bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 175 shares of the construction company’s stock, valued at approximately $32,000.

Several other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Annapolis Financial Services LLC lifted its holdings 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 purchasing an additional 53 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Installed Building Products during the 4th quarter valued at about $33,000. Finally, GAMMA Investing LLC bought a new position in Installed Building Products during the 4th quarter valued at about $76,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBP shares. JPMorgan Chase & Co. cut their price target on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a report on Monday. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Evercore ISI boosted their target price on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Truist Financial boosted their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.30.

Insider Activity at Installed Building Products

In related news, 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 transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Todd R. Fry sold 500 shares of the company’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 $1,675,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,619 shares of company stock worth $1,606,732. 16.50% of the stock is currently owned by company insiders.

Installed Building Products Stock Down 2.3 %

Shares of NYSE:IBP opened at $228.23 on Tuesday. Installed Building Products, Inc. has a one year low of $103.50 and a one year high of $263.76. The company has a 50 day moving average of $242.36 and a 200-day moving average of $199.37. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 25.82 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data 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 analysts’ expectations of $688.59 million. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.34 earnings per share. On average, sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, June 14th. Installed Building Products’s dividend payout ratio is currently 15.84%.

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.