Magnetar Financial LLC Makes New Investment in Installed Building Products, Inc. $IBP

Magnetar Financial LLC acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the third quarter, HoldingsChannel reports. The institutional investor acquired 8,973 shares of the construction company’s stock, valued at approximately $2,213,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new stake in Installed Building Products in the 3rd quarter valued at $481,000. Bayforest Capital Ltd increased its position in Installed Building Products by 180.0% during the 3rd quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after buying an additional 1,834 shares during the period. Blalock Williams LLC acquired a new stake in shares of Installed Building Products during the third quarter worth $792,000. Envestnet Asset Management Inc. lifted its holdings in shares of Installed Building Products by 16.3% during the third quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company’s stock worth $32,522,000 after buying an additional 18,487 shares in the last quarter. Finally, Timucuan Asset Management Inc. FL boosted its position in shares of Installed Building Products by 73.2% in the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after acquiring an additional 366,250 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analysts Set New Price Targets

IBP has been the topic of several research reports. Jefferies Financial Group upped their price target on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. Benchmark downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. 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 raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a report on Friday, February 27th. Finally, Wells Fargo & Company dropped their price target on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $256.09.

Installed Building Products Trading Down 3.2%

IBP opened at $272.35 on Friday. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 3.95 and a beta of 1.90. 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, Inc. has a twelve month low of $150.83 and a twelve month high of $349.00. The company has a 50-day simple moving average of $307.94 and a 200 day simple moving average of $276.62.

Installed Building Products (NYSE:IBP) last released its 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 net margin of 8.93% and a return on equity of 43.71%. The firm had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. During the same period last year, the firm earned $2.88 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $1.80 per share. This represents a yield of 66.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s payout ratio is currently 15.21%.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares of the company’s stock, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was 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. This represents a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is owned by corporate insiders.

About Installed Building Products

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.