Handelsbanken Fonder AB Grows Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Handelsbanken Fonder AB raised its stake in Installed Building Products, Inc. (NYSE:IBP) by 41.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,465 shares of the construction company’s stock after acquiring an additional 2,500 shares during the period. Handelsbanken Fonder AB’s holdings in Installed Building Products were worth $1,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in Installed Building Products by 8.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company’s stock valued at $923,000 after buying an additional 405 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Installed Building Products by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock worth $22,234,000 after buying an additional 4,467 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the period. JPMorgan Chase & Co. increased its position in shares of Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company’s stock valued at $26,949,000 after acquiring an additional 81,455 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in Installed Building Products during the 4th quarter worth approximately $1,621,000. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IBP shares. Loop Capital cut their price objective on shares of Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Truist Financial decreased their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They set a “hold” rating and a $183.00 price objective on the stock. DA Davidson dropped their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $212.45.

Installed Building Products Trading Down 3.4%

Shares of IBP stock opened at $164.91 on Friday. The stock has a 50-day moving average of $164.37 and a 200-day moving average of $177.31. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $281.04. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.32 and a beta of 1.73. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The company had revenue of $684.80 million for the quarter, compared to analysts’ expectations of $681.34 million. During the same period in the previous year, the firm earned $2.47 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.90%. Installed Building Products’s dividend payout ratio is presently 16.88%.

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.