Cerity Partners LLC Grows Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Cerity Partners LLC boosted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,639 shares of the construction company’s stock after acquiring an additional 963 shares during the period. Cerity Partners LLC’s holdings in Installed Building Products were worth $849,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ziegler Capital Management LLC purchased a new position in shares of Installed Building Products during the 4th quarter worth $3,618,000. Giverny Capital Inc. boosted its stake in Installed Building Products by 1.1% during 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 period. Nordea Investment Management AB acquired a new stake in shares of Installed Building Products during the fourth quarter valued at about $269,000. William Blair Investment Management LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $18,661,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Installed Building Products in the 3rd quarter worth approximately $378,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBP. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. DA Davidson began coverage on Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. Truist Financial boosted their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Transactions at Installed Building Products

In related news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,619 shares of company stock valued at $1,606,732. Corporate insiders own 16.50% of the company’s stock.

Installed Building Products Trading Up 0.9 %

NYSE IBP opened at $223.24 on Tuesday. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76. The firm has a 50 day moving average of $237.70 and a two-hundred day moving average of $186.39. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $6.35 billion, a PE ratio of 25.93 and a beta of 1.89.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.03. The business had revenue of $720.70 million during the quarter, compared to analysts’ expectations of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 EPS. As a group, research analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a $1.60 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio is presently 16.26%.

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.