Installed Building Products (NYSE:IBP) Hits New 12-Month High at $261.14

Installed Building Products, Inc. (NYSE:IBP) reached a new 52-week high during trading on Thursday . The company traded as high as $261.14 and last traded at $261.14, with a volume of 68818 shares traded. The stock had previously closed at $255.38.

Wall Street Analyst Weigh In

IBP has been the subject of several research analyst reports. Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. DA Davidson began coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. Truist Financial increased their price objective on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada upped their price target on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $203.80.

Installed Building Products Stock Up 1.2 %

The firm has a 50-day moving average price of $220.61 and a 200 day moving average price of $171.15. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 1.56 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The company had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. Sell-side analysts predict that Installed Building Products, Inc. will post 11.25 EPS for the current year.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 31st. Shareholders of record on Friday, March 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio is presently 16.26%.

Insider Activity at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total transaction of $273,282.18. Following the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock worth $1,606,732 in the last quarter. 17.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IBP. Ziegler Capital Management LLC purchased a new stake in shares of Installed Building Products in the fourth quarter worth $3,618,000. Giverny Capital Inc. raised its holdings in Installed Building Products by 1.1% in the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after buying an additional 4,542 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Installed Building Products in the third quarter worth approximately $18,661,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Installed Building Products during the third quarter valued at approximately $378,000. Finally, Tudor Investment Corp Et Al increased its position in shares of Installed Building Products by 524.2% during the third quarter. Tudor Investment Corp Et Al now owns 51,037 shares of the construction company’s stock valued at $6,374,000 after acquiring an additional 42,861 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.