MQS Management LLC Acquires Shares of 1,362 Installed Building Products, Inc. (NYSE:IBP)

MQS Management LLC purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,362 shares of the construction company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBP. Vanguard Group Inc. boosted its stake in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB grew its stake in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after purchasing an additional 4,943 shares in the last quarter. Norges Bank bought a new stake in Installed Building Products in the fourth quarter valued at about $37,583,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after buying an additional 183,696 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IBP shares. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Evercore ISI boosted their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. 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 research report on Friday, August 2nd. Royal Bank of Canada boosted 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 report on Friday, August 2nd. Finally, Jefferies Financial Group raised their target price 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 given a buy rating to the company’s stock. According to MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $239.09 on Friday. The firm’s 50 day moving average is $227.25 and its two-hundred day moving average is $227.26. The firm has a market capitalization of $6.80 billion, a P/E ratio of 27.05 and a beta of 1.93. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04.

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

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.59%. The ex-dividend date is Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Installed Building Products Company 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.