Legal & General Group Plc Purchases Shares of 53,538 Installed Building Products, Inc. $IBP

Legal & General Group Plc acquired a new position in Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 53,538 shares of the construction company’s stock, valued at approximately $12,305,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Danske Bank A S purchased a new stake in Installed Building Products during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC increased its stake in Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Meeder Asset Management Inc. purchased a new position in Installed Building Products in the 1st quarter worth approximately $30,000. Keating Financial Advisory Services Inc. bought a new stake in Installed Building Products in the second quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 1.4%

NYSE:IBP opened at $242.22 on Tuesday. The company has a 50-day moving average price of $232.95 and a 200-day moving average price of $253.61. Installed Building Products, Inc. has a 12 month low of $193.11 and a 12 month high of $349.00. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 4.61 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last announced its 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. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same quarter in the previous year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

Insider Buying and Selling at Installed Building Products

In other news, CFO Michael Thomas Miller bought 990 shares of Installed Building Products stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Evercore set a $246.00 price target on shares of Installed Building Products in a report on Friday, August 7th. The Goldman Sachs Group dropped their price target on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a report on Monday, May 11th. Finally, Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $249.30.

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.