NewEdge Wealth LLC Purchases New Position in Installed Building Products, Inc. $IBP

NewEdge Wealth LLC acquired a new position in Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 11,264 shares of the construction company’s stock, valued at approximately $2,769,000.

Several other institutional investors also recently bought and sold shares of the company. Eminence Capital LP raised its position in Installed Building Products by 48.5% during the 2nd quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock valued at $170,421,000 after purchasing an additional 308,717 shares in the last quarter. Timucuan Asset Management Inc. FL raised its holdings in shares of Installed Building Products by 73.2% in the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after acquiring an additional 366,250 shares in the last quarter. Giverny Capital Inc. lifted its stake in Installed Building Products by 1.3% in the second quarter. Giverny Capital Inc. now owns 514,459 shares of the construction company’s stock worth $92,767,000 after acquiring an additional 6,386 shares during the period. Bamco Inc. NY lifted its stake in Installed Building Products by 8.5% in the second quarter. Bamco Inc. NY now owns 481,039 shares of the construction company’s stock worth $86,741,000 after acquiring an additional 37,595 shares during the period. Finally, First Trust Advisors LP grew its holdings in Installed Building Products by 14.9% during the 2nd quarter. First Trust Advisors LP now owns 390,021 shares of the construction company’s stock worth $70,329,000 after acquiring an additional 50,606 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the transaction, the director directly owned 8,373 shares of the company’s stock, valued at $2,246,308.44. This represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 16.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IBP shares. Wells Fargo & Company boosted their price target on shares of Installed Building Products from $310.00 to $355.00 and gave the company a “cautious” rating in a report on Wednesday, February 11th. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Jefferies Financial Group upped their target price on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a report on Monday, December 15th. Royal Bank Of Canada increased their target price on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings raised Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $239.45.

Installed Building Products Stock Performance

Shares of IBP stock opened at $325.17 on Friday. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $349.00. The business’s fifty day simple moving average is $295.34 and its 200-day simple moving average is $271.52. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The company has a market cap of $8.82 billion, a PE ratio of 35.00, a PEG ratio of 7.49 and a beta of 1.92.

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.