Grandeur Peak Global Advisors LLC Purchases 3,984 Shares of Installed Building Products, Inc. $IBP

Grandeur Peak Global Advisors LLC lifted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 48.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,180 shares of the construction company’s stock after acquiring an additional 3,984 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Installed Building Products were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BTG Pactual Asset Management US LLC bought a new stake in Installed Building Products in the second quarter worth approximately $242,000. Quantitative Investment Management LLC bought a new position in shares of Installed Building Products during the 2nd quarter worth approximately $583,000. Benjamin Edwards Inc. boosted its holdings in shares of Installed Building Products by 7.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,902 shares of the construction company’s stock worth $898,000 after buying an additional 266 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Installed Building Products by 2,905.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 571 shares of the construction company’s stock worth $131,000 after buying an additional 552 shares during the period. Finally, Wedbush Securities Inc. grew its position in shares of Installed Building Products by 18.6% during the 2nd quarter. Wedbush Securities Inc. now owns 1,060 shares of the construction company’s stock worth $244,000 after buying an additional 166 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens dropped 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 report on Friday, May 8th. Wells Fargo & Company reduced their price target on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. decreased their price target 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. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Truist Financial reduced their target price on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $249.30.

Insider Buying and Selling at Installed Building Products

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

Installed Building Products Stock Performance

NYSE IBP opened at $246.12 on Monday. The company 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 company has a fifty day simple moving average of $232.34 and a 200 day simple moving average of $254.28. 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, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping 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 firm had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same quarter in the prior year, the company posted $2.95 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 15th. 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.