New York State Common Retirement Fund Increases Stock Position in Installed Building Products, Inc. $IBP

New York State Common Retirement Fund raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 21.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,366 shares of the construction company’s stock after acquiring an additional 22,027 shares during the period. New York State Common Retirement Fund’s holdings in Installed Building Products were worth $30,676,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IBP. Curio Wealth LLC boosted its position in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after buying an additional 168 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Installed Building Products in the third quarter worth $42,000. SRH Advisors LLC increased its position in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Installed Building Products by 31.8% in the third quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after acquiring an additional 54 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Installed Building Products in the third quarter valued at $106,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Installed Building Products

In other news, insider William Jeffrey Hire sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the sale, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. The trade was a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the sale, the director directly owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on IBP. Jefferies Financial Group upped their price target on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $245.00 target price on shares of Installed Building Products in a report on Tuesday, January 13th. Wells Fargo & Company lifted their price target on shares of Installed Building Products from $275.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada increased their price objective on shares of Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, November 6th. Finally, Zacks Research cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $235.36.

Installed Building Products Stock Down 1.3%

IBP stock opened at $288.77 on Friday. The stock has a market cap of $7.83 billion, a P/E ratio of 31.08, a PEG ratio of 5.40 and a beta of 1.91. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $317.86. The company’s 50 day moving average is $278.54 and its two-hundred day moving average is $258.35.

Installed Building Products (NYSE:IBP) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm had revenue of $778.20 million for the quarter, compared to the consensus estimate of $751.98 million. During the same period last year, the firm posted $2.85 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal 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.