Choreo LLC Takes $252,000 Position in Installed Building Products, Inc. (NYSE:IBP)

Choreo LLC acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,251 shares of the construction company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Installed Building Products during the first quarter valued at about $29,000. Russell Investments Group Ltd. boosted its position 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 worth $25,000 after buying an additional 101 shares during the period. Quarry LP grew its holdings in Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after acquiring an additional 57 shares during the last quarter. C M Bidwell & Associates Ltd. increased its position in Installed Building Products by 1,393.8% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after acquiring an additional 223 shares during the period. Finally, CWM LLC raised its stake in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE:IBP opened at $236.25 on Thursday. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04. The company has a fifty day moving average of $226.69 and a 200-day moving average of $227.14. The firm has a market capitalization of $6.72 billion, a P/E ratio of 26.73 and a beta of 1.93.

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

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.59%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IBP. Evercore ISI boosted their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group raised their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Profile

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.