Teacher Retirement System of Texas Invests $600,000 in Installed Building Products, Inc. (NYSE:IBP)

Teacher Retirement System of Texas purchased a new position in Installed Building Products, Inc. (NYSE:IBP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,498 shares of the construction company’s stock, valued at approximately $600,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock worth $85,124,000 after acquiring an additional 199,657 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Installed Building Products by 35,416.8% during the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company’s stock valued at $289,870,000 after buying an additional 168,584 shares in the last quarter. Norges Bank purchased a new stake in Installed Building Products in the 4th quarter valued at about $28,509,000. T. Rowe Price Investment Management Inc. boosted its position in Installed Building Products by 87.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock valued at $59,249,000 after buying an additional 158,173 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Installed Building Products in the 4th quarter worth about $23,776,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $190.58 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.89 and a quick ratio of 2.31. The business has a 50 day simple moving average of $172.66 and a two-hundred day simple moving average of $174.95. The stock has a market capitalization of $5.26 billion, a P/E ratio of 21.73 and a beta of 1.74. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $281.04.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The firm had revenue of $684.80 million for the quarter, compared to analysts’ expectations of $681.34 million. During the same period in the previous year, the firm posted $2.47 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Friday, June 13th. Installed Building Products’s payout ratio is 16.88%.

Analysts Set New Price Targets

A number of analysts recently issued reports on IBP shares. 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. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price target on the stock. Finally, Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 9th. Two research 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. According to MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $212.45.

Installed Building Products 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.