Sanctuary Advisors LLC Makes New Investment in Installed Building Products, Inc. $IBP

Sanctuary Advisors LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,548 shares of the construction company’s stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after buying an additional 486 shares during the last quarter. United Services Automobile Association purchased a new stake in Installed Building Products in the first quarter worth about $263,000. Jane Street Group LLC lifted its stake in shares of Installed Building Products by 270.0% in the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after purchasing an additional 12,545 shares during the period. Hsbc Holdings PLC lifted 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 valued at $296,000 after buying an additional 92 shares during the period. Finally, Jump Financial LLC boosted its stake 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 in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Activity

In related news, CFO Michael Thomas Miller purchased 990 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the acquisition, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

NYSE:IBP opened at $246.12 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The business has a 50 day simple moving average of $232.34 and a 200-day simple moving average of $254.77. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.61 and a beta of 1.70. 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 posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million for 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 revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. Equities analysts forecast that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Announces Dividend

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 issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s payout ratio is presently 16.79%.

Analyst Ratings Changes

IBP has been the topic of several analyst reports. Royal Bank Of Canada set a $242.00 target price on Installed Building Products in a report on Monday, May 11th. 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 research note on Friday, May 8th. The Goldman Sachs Group lowered their price objective on shares of 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. Truist Financial lowered their price objective on Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $249.30.

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.