Vest Financial LLC Has $1.16 Million Stake in Installed Building Products, Inc. (NYSE:IBP)

Vest Financial LLC raised its position in Installed Building Products, Inc. (NYSE:IBP) by 61.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,659 shares of the construction company’s stock after purchasing an additional 2,163 shares during the period. Vest Financial LLC’s holdings in Installed Building Products were worth $1,164,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. bought a new stake in shares of Installed Building Products in the 4th quarter valued at $7,820,000. Vanguard Group Inc. increased its stake in shares of Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares in the last quarter. Duality Advisers LP increased its stake in shares of Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after acquiring an additional 3,389 shares in the last quarter. Goodnow Investment Group LLC increased its stake in shares of Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after acquiring an additional 20,737 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Installed Building Products in the 1st quarter valued at $564,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE IBP opened at $210.81 on Friday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 23.85 and a beta of 1.93. The company has a fifty day moving average price of $224.40 and a 200-day moving average price of $227.52.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. As a group, equities research analysts predict that Installed Building Products, Inc. will post 11.14 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.66%. Installed Building Products’s payout ratio is 15.84%.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBP. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Truist Financial lifted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Stephens restated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $255.20.

Installed Building Products Profile

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.