Sanctuary Advisors LLC Takes Position in Installed Building Products, Inc. $IBP

Sanctuary Advisors LLC bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, Holdings Channel.com reports. The fund bought 2,548 shares of the construction company’s stock, valued at approximately $586,000.

A number of other institutional investors have also modified their holdings of the company. Danske Bank A S purchased a new position in Installed Building Products in the third quarter worth $25,000. NewEdge Advisors LLC grew its stake in Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Installed Building Products in the 1st quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Installed Building Products in the second quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after purchasing an additional 133 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th. Stephens reduced their target price on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Truist Financial reduced their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. DA Davidson increased their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Evercore set a $246.00 target price on shares of Installed Building Products in a research note on Friday, August 7th. One equities research 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 data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $249.30.

Installed Building Products Stock Up 2.2%

Shares of NYSE IBP opened at $246.12 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The stock has a market cap of $6.54 billion, a P/E ratio of 26.49, a PEG ratio of 4.61 and a beta of 1.70. The business’s fifty day simple moving average is $232.34 and its 200-day simple moving average is $254.77. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The business had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same period in the previous year, the company posted $2.95 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s payout ratio is 16.79%.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is owned by company insiders.

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.