NewEdge Wealth LLC Makes New Investment in Installed Building Products, Inc. $IBP

NewEdge Wealth LLC acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,264 shares of the construction company’s stock, valued at approximately $2,769,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its position in Installed Building Products by 3.5% in the third quarter. Verdence Capital Advisors LLC now owns 1,265 shares of the construction company’s stock worth $343,000 after purchasing an additional 43 shares during the last quarter. Amalgamated Bank grew its stake in shares of Installed Building Products by 0.8% in the 3rd quarter. Amalgamated Bank now owns 6,589 shares of the construction company’s stock worth $1,625,000 after buying an additional 50 shares in the last quarter. State of Wyoming increased its holdings in shares of Installed Building Products by 5.1% in the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock worth $199,000 after buying an additional 53 shares during the last quarter. Farther Finance Advisors LLC raised its position 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 buying an additional 54 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after buying an additional 54 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore set a $265.00 price target on Installed Building Products in a research report on Thursday, November 6th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $245.00 target price on shares of Installed Building Products in a report on Tuesday, January 13th. Wells Fargo & Company increased their price target on Installed Building Products from $310.00 to $355.00 and gave the company a “cautious” rating in a report on Wednesday, February 11th. Jefferies Financial Group raised their price target on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research report on Monday, December 15th. Finally, Benchmark cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $239.45.

Insider Buying and Selling

In related news, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the sale, the director owned 8,373 shares in the company, valued at $2,246,308.44. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.20% of the stock is owned by corporate insiders.

Installed Building Products Price Performance

IBP opened at $325.17 on Friday. The business has a fifty day moving average of $295.34 and a 200 day moving average of $271.52. The stock has a market cap of $8.82 billion, a P/E ratio of 35.00, a PEG ratio of 7.49 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $349.00.

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.