JPMorgan Chase & Co. Raises Stake in Installed Building Products, Inc. $IBP

JPMorgan Chase & Co. increased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 92.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 60,361 shares of the construction company’s stock after buying an additional 29,056 shares during the period. JPMorgan Chase & Co.’s holdings in Installed Building Products were worth $14,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 acquiring an additional 486 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Installed Building Products during the first quarter worth $263,000. Jane Street Group LLC lifted its position 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 valued at $2,948,000 after purchasing an additional 12,545 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Installed Building Products during the second quarter valued at $272,000. Finally, Legal & General Group Plc boosted its holdings in Installed Building Products by 1.3% in the second quarter. Legal & General Group Plc now owns 70,102 shares of the construction company’s stock valued at $12,641,000 after purchasing an additional 879 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBP has been the topic of several analyst reports. Vertical Research raised Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a research report on Friday, February 27th. Zacks Research downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note 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 research note on Monday, December 15th. Wells Fargo & Company reduced their price target on Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, Wall Street Zen raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Eleven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $257.73.

Installed Building Products Trading Down 2.5%

Shares of Installed Building Products stock opened at $264.92 on Friday. The firm has a 50-day simple moving average of $305.12 and a two-hundred day simple moving average of $277.07. The company has a market cap of $7.15 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 3.82 and a beta of 1.90. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. The company had revenue of $747.50 million during the quarter, compared to analysts’ expectations of $738.97 million. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.Installed Building Products’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $1.80 per share. This represents a dividend yield of 63.0%. The ex-dividend date of this dividend is Friday, March 13th. Installed Building Products’s dividend payout ratio is presently 16.03%.

Insider Activity at Installed Building Products

In other news, Director Janet E. Jackson sold 1,410 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the transaction, the director owned 5,373 shares in the company, valued at $1,575,954.63. This trade represents a 20.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the completion of the sale, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. This represents a 18.80% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 16.20% of the company’s stock.

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.