Envestnet Asset Management Inc. Acquires 8,851 Shares of Installed Building Products, Inc. (NYSE:IBP)

Envestnet Asset Management Inc. lifted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,960 shares of the construction company’s stock after purchasing an additional 8,851 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Installed Building Products worth $15,212,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Installed Building Products during the 1st quarter valued at $29,000. Quarry LP boosted its position in Installed Building Products by 37.5% during the 4th 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 period. C M Bidwell & Associates Ltd. boosted its position in Installed Building Products by 1,393.8% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after buying an additional 223 shares during the period. CWM LLC boosted its position in Installed Building Products by 32.1% during the 2nd 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 period. Finally, Headlands Technologies LLC purchased a new stake in Installed Building Products during the 1st quarter valued at $68,000. Institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Truist Financial increased their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Stock Down 0.9 %

Shares of Installed Building Products stock opened at $241.29 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The company has a 50-day moving average of $227.22 and a 200 day moving average of $227.19. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 27.30 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.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million during 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 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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 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 yield of 0.58%. Installed Building Products’s dividend 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.