Renaissance Technologies LLC Has $5.64 Million Stake in Installed Building Products, Inc. $IBP

Renaissance Technologies LLC boosted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 20.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 21,260 shares of the construction company’s stock after buying an additional 3,640 shares during the quarter. Renaissance Technologies LLC’s holdings in Installed Building Products were worth $5,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Installed Building Products in the third quarter valued at $25,000. NewEdge Advisors LLC increased its stake in shares of Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Installed Building Products during the 1st quarter worth about $30,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after purchasing an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Installed Building Products in the 4th quarter valued at about $43,000. 99.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IBP shares. Truist Financial reduced their price target on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday, May 8th. The Goldman Sachs Group dropped their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Evercore set a $226.00 price objective on Installed Building Products in a research report on Friday, May 8th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company reduced their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $247.67.

Insider Activity at Installed Building Products

In related news, insider Jason R. Niswonger acquired 455 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the transaction, the insider directly owned 17,122 shares of the company’s stock, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brad A. Wheeler acquired 716 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $209.13 per share, with a total value of $149,737.08. Following the acquisition, the chief operating officer owned 14,988 shares of the company’s stock, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 5,036 shares of company stock valued at $1,042,807 in the last 90 days. Insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

Shares of IBP opened at $242.03 on Thursday. The company’s 50-day moving average is $219.68 and its 200-day moving average is $261.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. The firm has a market capitalization of $6.52 billion, a PE ratio of 25.80, a PEG ratio of 5.70 and a beta of 1.70. Installed Building Products, Inc. has a fifty-two week low of $193.11 and a fifty-two week high of $349.00.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the firm posted $2.08 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that Installed Building Products, Inc. will post 9.57 EPS for the current year.

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.