Sei Investments Co. Raises Position in Installed Building Products, Inc. $IBP

Sei Investments Co. lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,561 shares of the construction company’s stock after buying an additional 3,016 shares during the quarter. Sei Investments Co. owned 0.18% of Installed Building Products worth $13,142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBP. Lido Advisors LLC acquired a new stake in Installed Building Products in the first quarter valued at approximately $241,000. Walleye Capital LLC acquired a new position in shares of Installed Building Products during the first quarter worth $3,777,000. CacheTech Inc. boosted its stake in shares of Installed Building Products by 1.4% in the first quarter. CacheTech Inc. now owns 12,209 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 169 shares during the period. Convergence Investment Partners LLC grew its holdings in Installed Building Products by 22.7% during the 1st quarter. Convergence Investment Partners LLC now owns 2,618 shares of the construction company’s stock valued at $694,000 after purchasing an additional 485 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Installed Building Products during the 1st quarter valued at $30,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Down 2.4%

Shares of NYSE:IBP opened at $224.88 on Friday. The company’s fifty day moving average is $218.22 and its two-hundred day moving average is $263.66. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 5.52 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $668.92 million. During the same period in the prior year, the company earned $2.08 EPS. Installed Building Products’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts anticipate that Installed Building Products, Inc. will post 9.57 EPS for the current year.

Installed Building Products Announces Dividend

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

Insider Buying and Selling

In related news, CFO Michael Thomas Miller bought 990 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This represents a 2.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence A. Hilsheimer purchased 475 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $206.22 per share, with a total value of $97,954.50. Following the acquisition, the director owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. This trade represents a 1.70% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 5,036 shares of company stock worth $1,042,807. Company insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $226.00 price target on Installed Building Products in a research note on Friday, May 8th. Stephens lowered their price objective on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, Truist Financial cut their target price on Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $247.67.

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.