Bank of New York Mellon Corp Has $46.57 Million Holdings in Installed Building Products, Inc. (NYSE:IBP)

Bank of New York Mellon Corp boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 226,428 shares of the construction company’s stock after purchasing an additional 4,943 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of Installed Building Products worth $46,572,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Diversified Trust Co grew its holdings in Installed Building Products by 2.3% in the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after purchasing an additional 46 shares during the period. Quarry LP grew its holdings in Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after purchasing an additional 57 shares during the period. CWM LLC grew its holdings in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after purchasing an additional 88 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Installed Building Products by 58.7% in the fourth quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock worth $48,000 after purchasing an additional 98 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 equities research analysts have commented on IBP shares. Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday. Benchmark lifted their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Evercore ISI lifted their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.20.

Installed Building Products Stock Up 1.0 %

Installed Building Products stock opened at $222.31 on Monday. Installed Building Products, Inc. has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The stock has a market cap of $6.28 billion, a PE ratio of 25.15 and a beta of 1.93. The firm’s 50-day simple moving average is $223.06 and its 200 day simple moving average is $227.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The business had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. Research analysts predict that Installed Building Products, Inc. will post 11.14 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

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.