Pittenger & Anderson Inc. Takes $432,000 Position in Installed Building Products, Inc. $IBP

Pittenger & Anderson Inc. purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) during the third quarter, according to its most recent filing with the SEC. The firm purchased 1,750 shares of the construction company’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IBP. Curio Wealth LLC increased its stake in Installed Building Products by 16,800.0% during the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after purchasing an additional 168 shares in the last quarter. SRH Advisors LLC boosted its holdings in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after buying an additional 85 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Installed Building Products during the third quarter worth $42,000. Farther Finance Advisors LLC raised its holdings in shares of Installed Building Products by 31.8% during the third quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after acquiring an additional 54 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Activity at Installed Building Products

In other news, insider William Jeffrey Hire sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the sale, the insider directly owned 32,999 shares in the company, valued at $8,303,538.37. This trade represents a 13.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the sale, the director directly owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. The trade was a 19.29% decrease in their position. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IBP shares. Royal Bank Of Canada upped their price target on Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 price objective on shares of Installed Building Products in a research report on Tuesday, January 13th. Weiss Ratings cut shares of Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company raised their target price on shares of Installed Building Products from $275.00 to $310.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Finally, Evercore ISI set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $235.36.

Installed Building Products Stock Down 1.3%

IBP stock opened at $288.77 on Friday. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $317.86. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 5.40 and a beta of 1.91. The business’s fifty day moving average price is $278.54 and its two-hundred day moving average price is $258.35.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.Installed Building Products’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share. On average, equities analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

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.