Legal & General Group Plc Takes $12.30 Million Position in Installed Building Products, Inc. $IBP

Legal & General Group Plc acquired a new position in Installed Building Products, Inc. (NYSE:IBP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,538 shares of the construction company’s stock, valued at approximately $12,305,000. Legal & General Group Plc owned about 0.20% of Installed Building Products as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IBP. BlackRock Inc. bought a new stake in shares of Installed Building Products in the second quarter valued at approximately $1,055,034,000. Price T Rowe Associates Inc. MD raised its stake in shares of Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after purchasing an additional 328,725 shares during the period. Giverny Capital Inc. lifted its holdings in Installed Building Products by 0.9% during the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after purchasing an additional 4,500 shares in the last quarter. First Trust Advisors LP boosted its stake in Installed Building Products by 0.3% in the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after purchasing an additional 1,238 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Installed Building Products by 52.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after buying an additional 122,561 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller acquired 990 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. Truist Financial reduced their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Finally, DA Davidson increased their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $249.30.

Installed Building Products Trading Down 1.4%

Shares of IBP opened at $242.22 on Tuesday. The firm’s 50 day simple moving average is $232.95 and its 200 day simple moving average is $253.61. The company has a market capitalization of $6.44 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.61 and a beta of 1.70. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00.

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

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.6%. Installed Building Products’s payout ratio is 16.79%.

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.