Wealth Enhancement Advisory Services LLC Buys Shares of 1,683 Installed Building Products, Inc. (NYSE:IBP)

Wealth Enhancement Advisory Services LLC purchased a new position in Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,683 shares of the construction company’s stock, valued at approximately $414,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBP. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products in the 1st quarter worth about $29,000. V Square Quantitative Management LLC purchased a new position in shares of Installed Building Products during the third quarter valued at approximately $29,000. CWM LLC lifted its position in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Headlands Technologies LLC purchased a new stake in Installed Building Products in the first quarter worth approximately $68,000. Finally, GAMMA Investing LLC grew its position in Installed Building Products by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after purchasing an additional 191 shares during the period. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Performance

IBP opened at $210.26 on Friday. The company has a 50 day simple moving average of $231.09 and a two-hundred day simple moving average of $225.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The firm has a market cap of $5.94 billion, a P/E ratio of 23.47 and a beta of 1.95. Installed Building Products, Inc. has a 1-year low of $121.83 and a 1-year high of $281.04.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.13). The firm had revenue of $760.60 million during the quarter, compared to the consensus estimate of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Equities analysts forecast that Installed Building Products, Inc. will post 11 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.63%.

Analyst Upgrades and Downgrades

IBP has been the topic of several research analyst reports. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $203.00 to $197.00 in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.30.

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.