Installed Building Products, Inc. $IBP Stake Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 47.1% during the third quarter, Holdings Channel.com reports. The fund owned 9,365 shares of the construction company’s stock after purchasing an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Installed Building Products were worth $2,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after purchasing an additional 486 shares during the period. United Services Automobile Association bought a new stake in shares of Installed Building Products in the 1st quarter worth $263,000. Jane Street Group LLC raised its stake in shares of Installed Building Products by 270.0% in the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after buying an additional 12,545 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Installed Building Products by 7.2% in the second quarter. Envestnet Asset Management Inc. now owns 113,363 shares of the construction company’s stock valued at $20,442,000 after buying an additional 7,634 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Installed Building Products by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company’s stock valued at $643,000 after buying an additional 70 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of NYSE IBP opened at $326.32 on Wednesday. The company has a market cap of $8.80 billion, a P/E ratio of 33.54, a P/E/G ratio of 7.61 and a beta of 1.90. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $349.00. The business’s 50 day moving average is $303.10 and its two-hundred day moving average is $275.20. The company has a quick ratio of 2.44, a current ratio of 3.03 and a debt-to-equity ratio of 1.20.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The firm had revenue of $747.50 million during the quarter, compared to analysts’ expectations of $738.97 million. During the same quarter in the prior year, the firm posted $2.88 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $1.80 per share. This represents a dividend yield of 56.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s dividend payout ratio is presently 15.21%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBP shares. Evercore set a $265.00 target price on Installed Building Products in a report on Thursday, November 6th. 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. Wells Fargo & Company dropped their target price on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Jefferies Financial Group boosted their target price 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, Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $256.09.

Installed Building Products 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.