Victory Capital Management Inc. Buys 10,041 Shares of Installed Building Products, Inc. (NYSE:IBP)

Victory Capital Management Inc. lifted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 31.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,944 shares of the construction company’s stock after acquiring an additional 10,041 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Installed Building Products worth $8,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Installed Building Products by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 244,399 shares of the construction company’s stock worth $44,681,000 after acquiring an additional 1,296 shares during the period. Gryphon Financial Partners LLC purchased a new stake in Installed Building Products in the fourth quarter worth $214,000. NBC Securities Inc. bought a new position in Installed Building Products in the 4th quarter worth approximately $25,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Installed Building Products by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock valued at $140,974,000 after purchasing an additional 5,359 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IBP shares. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $223.26 on Monday. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $281.04. The firm has a market cap of $6.30 billion, a PE ratio of 25.26 and a beta of 1.93. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $225.10 and its two-hundred day simple moving average is $227.19.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The business had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. As a group, equities analysts expect that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, September 13th. Installed Building Products’s payout ratio is presently 15.84%.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.