Norges Bank Takes Position in Installed Building Products, Inc. $IBP

Norges Bank bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, HoldingsChannel reports. The firm bought 124,752 shares of the construction company’s stock, valued at approximately $32,359,000.

Several other institutional investors have also modified their holdings of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the period. United Services Automobile Association acquired a new stake in shares of Installed Building Products in the first quarter valued at about $263,000. Jane Street Group LLC boosted its position in Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the last quarter. Hsbc Holdings PLC boosted its position in Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after acquiring an additional 92 shares during the last quarter. Finally, Jump Financial LLC boosted its position in Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after acquiring an additional 16,400 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBP shares. JPMorgan Chase & Co. lowered their price target on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Wells Fargo & Company reduced their target price on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Benchmark downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Stephens reduced their target price on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $247.67.

Insider Activity at Installed Building Products

In related news, insider Jason R. Niswonger purchased 455 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $214.80 per share, with a total value of $97,734.00. Following the purchase, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brad A. Wheeler purchased 716 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the completion of the purchase, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 4,046 shares of company stock valued at $844,194 over the last 90 days. Insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $200.96 on Tuesday. The company’s 50 day simple moving average is $250.48 and its 200-day simple moving average is $275.80. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.88 and a beta of 1.71. Installed Building Products, Inc. has a 1 year low of $162.56 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. Installed Building Products’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.08 earnings per share. As a group, equities research analysts expect that Installed Building Products, Inc. will post 9.62 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Installed Building Products’s payout ratio is 16.63%.

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.