Allianz Asset Management GmbH Has $3.54 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Allianz Asset Management GmbH boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBPFree Report) by 15.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,380 shares of the construction company’s stock after buying an additional 2,654 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of Installed Building Products worth $3,543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Giverny Capital Inc. raised its stake in Installed Building Products by 5.2% in the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock valued at $83,261,000 after buying an additional 22,528 shares during the period. Franklin Resources Inc. lifted its position in shares of Installed Building Products by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 12,248 shares of the construction company’s stock valued at $2,239,000 after acquiring an additional 136 shares during the period. Quest Partners LLC bought a new stake in shares of Installed Building Products during the 4th quarter valued at $115,000. Trexquant Investment LP lifted its position in shares of Installed Building Products by 10.5% during the 4th quarter. Trexquant Investment LP now owns 2,342 shares of the construction company’s stock valued at $428,000 after acquiring an additional 223 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Installed Building Products by 2.3% during the 4th quarter. Corient Private Wealth LLC now owns 4,571 shares of the construction company’s stock valued at $836,000 after acquiring an additional 104 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBP. DA Davidson began coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price for the company. Truist Financial upped their price objective 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. Evercore ISI upped their price objective on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada upped their price objective on Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.30.

Get Our Latest Analysis on Installed Building Products

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares in the company, valued at $1,491,285.90. The disclosure for this sale can be found here. Insiders have sold 8,622 shares of company stock worth $1,944,911 over the last ninety days. Insiders own 16.50% of the company’s stock.

Installed Building Products Stock Down 2.8 %

Shares of NYSE:IBP opened at $213.63 on Friday. The firm has a market cap of $6.08 billion, a P/E ratio of 24.17 and a beta of 1.95. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $263.76. The business has a fifty day simple moving average of $231.03 and a 200 day simple moving average of $209.52. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25.

Installed Building Products (NYSE:IBPGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. The company had revenue of $692.90 million during the quarter, compared to the consensus estimate of $676.60 million. Analysts predict that Installed Building Products, Inc. will post 11.23 earnings per share for the current year.

Installed Building Products Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 14th. Installed Building Products’s payout ratio is presently 15.84%.

About Installed Building Products

(Free Report)

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.

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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