Bridgefront Capital LLC Purchases Shares of 3,043 Installed Building Products, Inc. $IBP

Bridgefront Capital LLC acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,043 shares of the construction company’s stock, valued at approximately $751,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Installed Building Products during the third quarter valued at approximately $33,000. Salomon & Ludwin LLC purchased a new stake in Installed Building Products in the 3rd quarter valued at $42,000. Farther Finance Advisors LLC lifted its stake in 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 in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Installed Building Products during the 3rd quarter valued at $61,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after acquiring an additional 54 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 4.7%

Shares of Installed Building Products stock opened at $285.00 on Monday. The firm has a market cap of $7.69 billion, a PE ratio of 29.29, a P/E/G ratio of 4.00 and a beta of 1.90. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The stock has a fifty day moving average price of $308.29 and a 200-day moving average price of $276.75.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. The company had revenue of $747.50 million for the quarter, compared to the consensus estimate of $738.97 million. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. Equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $1.80 dividend. This represents a yield of 63.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s payout ratio is presently 16.03%.

Insider Transactions at Installed Building Products

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the sale, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,410 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IBP shares. Wells Fargo & Company reduced their target price on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Vertical Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a report on Friday, February 27th. Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $245.00 price objective on shares of Installed Building Products in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $256.09.

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.