2,892 Installed Building Products, Inc. $IBP Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management raised its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 15.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,532 shares of the construction company’s stock after purchasing an additional 2,892 shares during the quarter. Joseph Group Capital Management’s holdings in Installed Building Products were worth $4,131,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in shares of Installed Building Products by 1.5% in the third quarter. Commonwealth Equity Services LLC now owns 3,192 shares of the construction company’s stock valued at $613,000 after buying an additional 47 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Installed Building Products by 5.0% during the first quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock worth $284,000 after acquiring an additional 51 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Installed Building Products by 5.0% during the third quarter. Apollon Wealth Management LLC now owns 1,101 shares of the construction company’s stock worth $211,000 after acquiring an additional 52 shares in the last quarter. Covestor Ltd raised its holdings in shares of Installed Building Products by 47.6% in the 3rd quarter. Covestor Ltd now owns 186 shares of the construction company’s stock worth $36,000 after acquiring an additional 60 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Installed Building Products by 2.6% in the 1st quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock worth $673,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBP. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Stifel Nicolaus lowered Installed Building Products from a “buy” rating to a “hold” rating and raised their target price for the company from $220.00 to $225.00 in a report on Monday. Truist Financial raised their target price on Installed Building Products from $160.00 to $180.00 and gave the company a “hold” rating in a report on Friday. Finally, Melius Research initiated coverage on Installed Building Products in a research report on Tuesday, October 6th. They set a “hold” rating and a $217.00 target price on the stock. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $229.83.

Insider Activity at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.80% of the company’s stock.

Installed Building Products Trading Up 1.4%

NYSE:IBP opened at $223.23 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 9.36 and a beta of 1.65. Installed Building Products, Inc. has a 52 week low of $176.15 and a 52 week high of $349.00. The firm has a 50-day moving average price of $204.11 and a two-hundred day moving average price of $244.97.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.07). Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $787.70 million. During the same period in the prior year, the business earned $3.18 EPS. Installed Building Products’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Installed Building Products, Inc. will post 9.75 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be 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 of this dividend is Tuesday, December 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 17.75%.

Installed Building Products Company Profile

Installed Building Products, Inc is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States.

The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services.

Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.