Fortress Financial Group LLC Takes $948,000 Position in Installed Building Products, Inc. $IBP

Fortress Financial Group LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,123 shares of the construction company’s stock, valued at approximately $948,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Installed Building Products in the second quarter worth about $1,055,034,000. Price T Rowe Associates Inc. MD grew its stake in shares of Installed Building Products by 26.9% during the fourth 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 buying an additional 328,725 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Installed Building Products by 4,659.1% in the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock worth $30,996,000 after buying an additional 168,285 shares during the period. Paralel Advisors LLC purchased a new stake in shares of Installed Building Products in the second quarter worth approximately $37,924,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $37,771,000. 99.61% of the stock is currently owned by institutional investors.

Insider Transactions at Installed Building Products

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 acquired 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. The trade was a 2.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.80% of the company’s stock.

Analysts Set New Price Targets

IBP has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a report on Monday, May 11th. Wells Fargo & Company decreased their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group cut their price target on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Evercore set a $246.00 price target on shares of Installed Building Products in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $249.30.

Installed Building Products Stock Up 0.9%

Shares of Installed Building Products stock opened at $246.88 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. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00. The firm’s 50-day moving average is $229.30 and its two-hundred day moving average is $257.12. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 4.63 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 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 business had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter in the previous year, the business posted $2.95 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend payout ratio is currently 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.