Wesbanco Bank Inc. Makes New Investment in Installed Building Products, Inc. $IBP

Wesbanco Bank Inc. bought a new stake in Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,690 shares of the construction company’s stock, valued at approximately $664,000.

Several other institutional investors and hedge funds have also modified their holdings of IBP. Curio Wealth LLC raised its position in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after buying an additional 168 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Installed Building Products in the 3rd quarter valued at about $42,000. Farther Finance Advisors LLC lifted its holdings in shares of Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after acquiring an additional 54 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after acquiring an additional 54 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Installed Building Products during the 3rd quarter worth approximately $106,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Installed Building Products news, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the transaction, the director owned 8,373 shares in the company, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.20% of the stock is owned by insiders.

Installed Building Products Stock Performance

NYSE IBP opened at $334.94 on Thursday. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 7.87 and a beta of 1.92. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $341.60. The stock has a fifty day simple moving average of $286.91 and a 200 day simple moving average of $265.76. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25.

Wall Street Analyst Weigh In

IBP has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Installed Building Products from $310.00 to $355.00 and gave the company a “cautious” rating in a report on Wednesday. Zacks Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Jefferies Financial Group boosted their target price on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research note on Monday, December 15th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $239.45.

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.