Installed Building Products, Inc. $IBP Shares Bought by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 79.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,189 shares of the construction company’s stock after buying an additional 2,293 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Installed Building Products were worth $1,193,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Installed Building Products by 3.6% in 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 acquiring an additional 486 shares during the period. United Services Automobile Association acquired a new position in Installed Building Products during the first quarter worth $263,000. Jane Street Group LLC raised 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 period. Hsbc Holdings PLC lifted its holdings 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 purchasing an additional 92 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings 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 valued at $3,265,000 after purchasing an additional 16,400 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

NYSE:IBP opened at $227.88 on Wednesday. The company has a market cap of $6.06 billion, a P/E ratio of 24.53, a P/E/G ratio of 4.47 and a beta of 1.71. Installed Building Products, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00. The company’s 50-day moving average price is $234.21 and its 200-day moving average price is $249.33. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

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

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBP. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Evercore set a $246.00 price target on shares of Installed Building Products in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price objective on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. DA Davidson boosted their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $249.30.

Insider Buying and Selling

In related news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Miller acquired 990 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. The trade was a 2.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.80% of the company’s stock.

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.