Benjamin Edwards Inc. Acquires 223 Shares of Installed Building Products, Inc. (NYSE:IBP)

Benjamin Edwards Inc. boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,853 shares of the construction company’s stock after purchasing an additional 223 shares during the quarter. Benjamin Edwards Inc.’s holdings in Installed Building Products were worth $339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ziegler Capital Management LLC bought a new stake in Installed Building Products in the 4th quarter valued at $3,618,000. Giverny Capital Inc. lifted its position in shares of Installed Building Products by 1.1% in the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after buying an additional 4,542 shares in the last quarter. Nordea Investment Management AB purchased a new position in Installed Building Products during the 4th quarter valued at approximately $269,000. William Blair Investment Management LLC bought a new stake in Installed Building Products in the 3rd quarter worth approximately $18,661,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Installed Building Products in the third quarter valued at $378,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.4 %

Shares of Installed Building Products stock traded down $0.99 during trading on Friday, hitting $243.70. The stock had a trading volume of 223,679 shares, compared to its average volume of 276,925. The stock has a market cap of $6.93 billion, a PE ratio of 28.30 and a beta of 1.91. Installed Building Products, Inc. has a 12 month low of $103.50 and a 12 month high of $263.76. The firm’s fifty day simple moving average is $242.65 and its 200-day simple moving average is $192.94. 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, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The company had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. During the same quarter last year, the business posted $2.34 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a dividend of $1.60 per share. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a yield of 2.63%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Evercore ISI lifted their price target on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Loop Capital raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Truist Financial boosted their target price on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insider Activity at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brad A. Wheeler sold 1,119 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the transaction, 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 worth $1,606,732 in the last 90 days. 16.50% of the stock is owned by corporate insiders.

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.