Meritage Portfolio Management Buys 294 Shares of Installed Building Products, Inc. (NYSE:IBP)

Meritage Portfolio Management boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,580 shares of the construction company’s stock after purchasing an additional 294 shares during the quarter. Meritage Portfolio Management’s holdings in Installed Building Products were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC raised its stake in Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after purchasing an additional 53 shares in the last quarter. Shaker Investments LLC OH grew its holdings in shares of Installed Building Products by 0.6% during the fourth quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company’s stock worth $1,950,000 after purchasing an additional 66 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Installed Building Products by 2.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company’s stock valued at $758,000 after buying an additional 93 shares during the period. Arizona State Retirement System increased its stake in shares of Installed Building Products by 1.5% in the third quarter. Arizona State Retirement System now owns 6,874 shares of the construction company’s stock valued at $858,000 after buying an additional 99 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Installed Building Products by 7.4% in the third quarter. National Bank of Canada FI now owns 1,860 shares of the construction company’s stock valued at $229,000 after buying an additional 128 shares during the period. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded up $5.65 during trading hours on Friday, hitting $240.87. 94,993 shares of the company’s stock traded hands, compared to its average volume of 257,107. Installed Building Products, Inc. has a 12-month low of $103.50 and a 12-month high of $263.76. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 27.95 and a beta of 1.89. The company has a fifty day simple moving average of $239.27 and a 200-day simple moving average of $187.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.03. The company had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. Equities research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s payout ratio is presently 16.26%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of Installed Building Products stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at $9,324,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brad A. Wheeler sold 1,119 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock valued at $1,606,732 in the last quarter. 16.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IBP shares. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Truist Financial increased their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada increased their target price on shares of Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Evercore ISI raised their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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.