Citigroup Inc. Has $21.24 Million Stock Position in Installed Building Products, Inc. $IBP

Citigroup Inc. grew its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 82.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,089 shares of the construction company’s stock after purchasing an additional 38,828 shares during the quarter. Citigroup Inc. owned about 0.32% of Installed Building Products worth $21,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC bought a new position in Installed Building Products during the third quarter valued at about $42,000. Farther Finance Advisors LLC increased its holdings in shares of Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after acquiring an additional 54 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after acquiring an additional 54 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Installed Building Products in the 3rd quarter worth approximately $106,000. Finally, Covestor Ltd lifted its holdings in Installed Building Products by 16.4% in the 3rd quarter. Covestor Ltd now owns 526 shares of the construction company’s stock worth $130,000 after purchasing an additional 74 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBP. Benchmark downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings upgraded shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Evercore set a $265.00 price target on Installed Building Products in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Reduce” and a consensus target price of $239.45.

Installed Building Products Stock Up 7.0%

NYSE IBP opened at $321.80 on Friday. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $349.00. The stock has a market cap of $8.73 billion, a PE ratio of 34.64, a PEG ratio of 7.01 and a beta of 1.92. The firm has a 50-day simple moving average of $299.42 and a 200 day simple moving average of $273.76. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.41. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The firm had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. During the same period in the previous year, the company posted $2.88 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $1.80 dividend. The ex-dividend date is Friday, March 13th. Installed Building Products’s dividend payout ratio is presently 15.93%.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.