NewEdge Wealth LLC Acquires Shares of 12,744 Installed Building Products, Inc. $IBP

NewEdge Wealth LLC acquired a new position in Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,744 shares of the construction company’s stock, valued at approximately $2,929,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association purchased a new stake in Installed Building Products during the 1st quarter valued at $263,000. Jane Street Group LLC boosted its stake in Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after buying an additional 12,545 shares during the period. Hsbc Holdings PLC increased its position in Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock valued at $296,000 after acquiring an additional 92 shares during the last quarter. Finally, Jump Financial LLC increased its position in Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock valued at $3,265,000 after acquiring an additional 16,400 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBP. Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. Evercore set a $246.00 target price on Installed Building Products in a research report on Friday, August 7th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, DA Davidson increased their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $249.30.

Insiders Place Their Bets

In related news, CFO Michael Thomas Miller purchased 990 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $244.42 on Friday. The company has a market cap of $6.50 billion, a PE ratio of 26.31, a P/E/G ratio of 4.70 and a beta of 1.70. The firm’s 50 day moving average price is $228.50 and its 200-day moving average price is $257.20. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.95 EPS. Sell-side analysts forecast that Installed Building Products, Inc. will post 9.78 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is 16.79%.

About Installed Building Products

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.