Rhumbline Advisers Raises Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Rhumbline Advisers raised its stake in Installed Building Products, Inc. (NYSE:IBP) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,612 shares of the construction company’s stock after purchasing an additional 81 shares during the quarter. Rhumbline Advisers owned about 0.23% of Installed Building Products worth $10,907,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new stake in Installed Building Products during the 4th quarter worth $30,000. McIlrath & Eck LLC increased its holdings in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC increased its stake 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 buying an additional 272 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Installed Building Products in the fourth quarter worth $90,000. Finally, Headlands Technologies LLC increased its position in shares of Installed Building Products by 819.0% in the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after purchasing an additional 647 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 2.0%

Shares of Installed Building Products stock opened at $168.36 on Tuesday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 18.71 and a beta of 1.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $281.04. The stock has a 50-day simple moving average of $163.95 and a 200-day simple moving average of $178.59.

Installed Building Products (NYSE:IBP) last announced 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). The company had revenue of $684.80 million during the quarter, compared to analyst estimates of $681.34 million. Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. Installed Building Products’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. On average, equities research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, June 13th. Installed Building Products’s dividend payout ratio is currently 16.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Loop Capital lowered their price target on Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 12th. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They set a “hold” rating and a $183.00 target price for the company. Truist Financial lowered their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently 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.