Renaissance Technologies LLC Acquires 3,640 Shares of Installed Building Products, Inc. $IBP

Renaissance Technologies LLC boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 20.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,260 shares of the construction company’s stock after buying an additional 3,640 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Installed Building Products worth $5,637,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of IBP. MGO One Seven LLC increased its position in shares of Installed Building Products by 3.1% during the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Abel Hall LLC raised its holdings in shares of Installed Building Products by 2.8% during the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after acquiring an additional 35 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Installed Building Products by 2.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock valued at $472,000 after acquiring an additional 35 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Installed Building Products by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock valued at $860,000 after acquiring an additional 35 shares in the last quarter. Finally, Petros Family Wealth LLC boosted its stake in Installed Building Products by 4.6% in the 1st quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock worth $240,000 after purchasing an additional 40 shares during the period. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBP. Royal Bank Of Canada set a $242.00 target price on Installed Building Products in a report on Monday, May 11th. Evercore set a $226.00 price target on Installed Building Products in a report on Friday, May 8th. DA Davidson reaffirmed a “neutral” rating and set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, June 1st. Truist Financial decreased their price objective on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $247.67.

Insider Buying and Selling at Installed Building Products

In related news, Director Lawrence A. Hilsheimer bought 475 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the completion of the acquisition, the director owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. The trade was a 1.70% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Niswonger bought 455 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $214.80 per share, for a total transaction of $97,734.00. Following the acquisition, the insider directly owned 17,122 shares of the company’s stock, valued at $3,677,805.60. This represents a 2.73% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 5,036 shares of company stock valued at $1,042,807. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Stock Performance

Shares of IBP opened at $242.03 on Thursday. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 5.70 and a beta of 1.70. Installed Building Products, Inc. has a 12 month low of $193.11 and a 12 month high of $349.00. The firm has a fifty day simple moving average of $219.68 and a 200 day simple moving average of $261.53. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. During the same quarter in the previous year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Research analysts forecast that Installed Building Products, Inc. will post 9.57 EPS for the current fiscal year.

Installed Building Products 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.