Gotham Asset Management LLC Invests $263,000 in Installed Building Products, Inc. (NYSE:IBP)

Gotham Asset Management LLC purchased a new position in Installed Building Products, Inc. (NYSE:IBP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,500 shares of the construction company’s stock, valued at approximately $263,000.

Other hedge funds have also made changes to their positions in the company. Curio Wealth LLC purchased a new stake in shares of Installed Building Products in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC lifted its position in shares of Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares in the last quarter. Headlands Technologies LLC raised its position in Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock valued at $127,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. raised its position in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after acquiring an additional 186 shares in the last quarter. Finally, MGO One Seven LLC bought a new position in Installed Building Products during the fourth quarter valued at approximately $205,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Down 0.2%

Shares of Installed Building Products stock opened at $161.26 on Wednesday. The company’s fifty day simple moving average is $167.56 and its 200-day simple moving average is $183.87. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 17.92 and a beta of 1.85. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 1 year low of $151.27 and a 1 year high of $281.04.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The business had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 0.92%. Installed Building Products’s dividend payout ratio is currently 16.88%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IBP shares. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. DA Davidson cut their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Loop Capital dropped their price target on shares of Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a research report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average target price of $212.45.

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.