Quantitative Investment Management LLC Invests $583,000 in Installed Building Products, Inc. $IBP

Quantitative Investment Management LLC bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the second quarter, HoldingsChannel reports. The firm bought 2,539 shares of the construction company’s stock, valued at approximately $583,000.

Other large investors have also modified their holdings of the company. Danske Bank A S acquired a new position in Installed Building Products in the third quarter worth about $25,000. NewEdge Advisors LLC increased its holdings in 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 buying an additional 100 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Installed Building Products during the first quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new position in Installed Building Products during the 2nd quarter worth approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $234.29 on Wednesday. Installed Building Products, Inc. has a 12 month low of $193.11 and a 12 month high of $349.00. The firm has a market capitalization of $6.23 billion, a PE ratio of 25.22, a P/E/G ratio of 4.55 and a beta of 1.71. The company’s 50 day simple moving average is $233.41 and its 200 day simple moving average is $252.90. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is 16.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th. DA Davidson raised their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, May 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average price target of $249.30.

Insider Buying and Selling

In other news, CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $200.62 per share, with a total value of $198,613.80. Following the purchase, the chief financial officer owned 34,209 shares in the company, valued at $6,863,009.58. This represents a 2.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.80% of the stock is owned by company 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.