Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,680 shares of the construction company’s stock after purchasing an additional 194 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Installed Building Products were worth $6,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in shares of Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC lifted its stake in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming lifted its stake in shares of Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock worth $147,000 after purchasing an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Installed Building Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock worth $439,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 2.4%

Shares of Installed Building Products stock opened at $165.71 on Monday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm has a market cap of $4.58 billion, a P/E ratio of 18.41 and a beta of 1.73. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $281.04. The business has a 50-day moving average price of $164.10 and a 200 day moving average price of $178.93.

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

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, June 13th. Installed Building Products’s dividend payout ratio is currently 16.88%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on 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. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Loop Capital dropped their target price on Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Truist Financial dropped their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $212.45.

About Installed Building Products

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.