Illinois Municipal Retirement Fund Purchases 7,300 Shares of Installed Building Products, Inc. $IBP

Illinois Municipal Retirement Fund lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 39.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,661 shares of the construction company’s stock after purchasing an additional 7,300 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Installed Building Products were worth $6,804,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after purchasing an additional 328,725 shares in the last quarter. Giverny Capital Inc. lifted its stake in shares of Installed Building Products by 0.9% in the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after buying an additional 4,500 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Installed Building Products by 0.3% in the fourth quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock valued at $103,950,000 after buying an additional 1,238 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after buying an additional 122,561 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Installed Building Products by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock valued at $91,045,000 after buying an additional 5,384 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent research reports. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. DA Davidson reaffirmed a “neutral” rating and issued a $242.00 price target on shares of Installed Building Products in a research report on Monday, June 1st. Wells Fargo & Company cut their price target on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. 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, Evercore set a $226.00 price objective on Installed Building Products in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $247.67.

Insider Activity

In other Installed Building Products news, Director Lawrence A. Hilsheimer bought 475 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the purchase, the director directly owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. This represents a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brad A. Wheeler bought 716 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the purchase, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 5,036 shares of company stock worth $1,042,807. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

IBP opened at $228.61 on Friday. Installed Building Products, Inc. has a 1 year low of $182.88 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 5.84 and a beta of 1.69. The firm’s fifty day moving average price is $215.18 and its two-hundred day moving average price is $266.36.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 7th. The construction company reported $1.79 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 firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. During the same quarter in the prior year, the company earned $2.08 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts anticipate that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products’s dividend payout ratio is presently 16.63%.

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.