Hsbc Holdings PLC Buys 24,805 Shares of Installed Building Products, Inc. $IBP

Hsbc Holdings PLC boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 782.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,975 shares of the construction company’s stock after acquiring an additional 24,805 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Installed Building Products worth $7,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Danske Bank A S bought a new position in shares of Installed Building Products in the third quarter worth approximately $25,000. NewEdge Advisors LLC increased its position in shares of Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Installed Building Products by 700.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after acquiring an additional 133 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Installed Building Products during the fourth quarter worth about $43,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Installed Building Products in the third quarter worth about $46,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBP shares. Truist Financial cut 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. DA Davidson restated a “neutral” rating and set a $242.00 target price on shares of Installed Building Products in a report on Monday, June 1st. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a research note on Monday, May 11th. Wells Fargo & Company cut their price target on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $247.67.

Installed Building Products Stock Down 0.8%

NYSE:IBP opened at $223.35 on Friday. The firm has a 50-day simple moving average of $216.46 and a two-hundred day simple moving average of $265.27. The firm has a market cap of $6.02 billion, a P/E ratio of 23.81, a P/E/G ratio of 5.39 and a beta of 1.69. Installed Building Products, Inc. has a fifty-two week low of $193.11 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. During the same period last year, the business earned $2.08 EPS. Installed Building Products’s revenue was down 3.5% on a year-over-year basis. Analysts predict that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products’s payout ratio is 16.63%.

Insider Activity at Installed Building Products

In related news, insider Jason R. Niswonger purchased 455 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the completion of the purchase, the insider directly owned 17,122 shares of the company’s stock, valued at $3,677,805.60. The trade was a 2.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Brad A. Wheeler acquired 716 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $209.13 per share, with a total value of $149,737.08. Following the completion of the acquisition, the chief operating officer directly owned 14,988 shares of the company’s stock, valued at $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 5,036 shares of company stock worth $1,042,807 over the last quarter. 13.80% of the stock is currently owned by insiders.

Installed Building Products Company Profile

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.