Public Sector Pension Investment Board Buys 3,569 Shares of Installed Building Products, Inc. (NYSE:IBP)

Public Sector Pension Investment Board boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,624 shares of the construction company’s stock after purchasing an additional 3,569 shares during the quarter. Public Sector Pension Investment Board owned about 0.18% of Installed Building Products worth $10,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its position in Installed Building Products by 2.3% during the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock valued at $416,000 after purchasing an additional 46 shares in the last quarter. Quarry LP raised its stake in Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares during the last quarter. CWM LLC raised its stake in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Installed Building Products by 2.5% in the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after buying an additional 63 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after buying an additional 88 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 1.8 %

Shares of IBP stock opened at $243.44 on Tuesday. The stock has a 50 day moving average of $227.43 and a 200 day moving average of $227.17. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The stock has a market cap of $6.92 billion, a P/E ratio of 27.54 and a beta of 1.93. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results 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. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 11.06 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Analyst Ratings Changes

IBP has been the subject of a number of research analyst reports. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group increased their price target on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $255.20.

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.