Inspire Investing LLC Grows Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Inspire Investing LLC increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,923 shares of the construction company’s stock after buying an additional 278 shares during the period. Inspire Investing LLC’s holdings in Installed Building Products were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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 purchasing an additional 18,890 shares in the last quarter. Swedbank AB increased its position in shares of Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after acquiring an additional 43,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Installed Building Products by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after acquiring an additional 4,943 shares during the last quarter. Norges Bank bought a new position in Installed Building Products in the 4th quarter valued at approximately $37,583,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBP. The Goldman Sachs Group boosted their price target on 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 upped 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 company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. 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 has a consensus rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Stock Down 2.8 %

IBP opened at $239.19 on Friday. The firm’s 50 day simple moving average is $227.25 and its two-hundred day simple moving average is $227.21. The company has a market capitalization of $6.80 billion, a PE ratio of 27.06 and a beta of 1.93. Installed Building Products, Inc. has a 1-year low of $106.01 and a 1-year high of $281.04. 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 (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, equities analysts forecast that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Dividend Announcement

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