Jupiter Topco LLC Buys New Shares in Installed Building Products, Inc. $IBP

Jupiter Topco LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, Holdings Channel reports. The fund bought 10,585 shares of the construction company’s stock, valued at approximately $2,433,000.

Other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Installed Building Products in the second quarter valued at $20,435,000. Canada Pension Plan Investment Board acquired a new stake in shares of Installed Building Products during the 2nd quarter valued at $524,000. Legal & General Group Plc bought a new stake in shares of Installed Building Products during the 2nd quarter worth $12,305,000. The Manufacturers Life Insurance Company acquired a new position in shares of Installed Building Products in the 2nd quarter worth $2,734,000. Finally, Sone Capital Management LLC acquired a new stake in shares of Installed Building Products during the second quarter worth $1,078,000. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a research note on Monday, May 11th. Truist Financial cut their price objective on Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group reduced their price objective on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Stephens decreased their target price on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $249.30.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller acquired 990 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the transaction, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. The trade was a 2.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $235.60 on Thursday. The company’s fifty day moving average is $233.66 and its two-hundred day moving average is $252.21. The company has a market cap of $6.26 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 4.39 and a beta of 1.71. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The business had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same quarter last year, the firm posted $2.95 earnings per share. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio is currently 16.79%.

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.