Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 84.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,681 shares of the construction company’s stock after buying an additional 9,912 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Installed Building Products worth $4,408,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 worth $683,421,000 after buying an additional 18,890 shares during the period. Duality Advisers LP raised its stake in Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after purchasing an additional 3,389 shares during the last quarter. Goodnow Investment Group LLC raised its stake in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after purchasing an additional 20,737 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in Installed Building Products in the 1st quarter valued at $564,000. Finally, Swedbank AB raised its stake in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after purchasing an additional 43,000 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Jefferies Financial Group increased their price objective on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group raised their target price 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. Truist Financial raised their target price 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, Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Stock Performance

NYSE IBP opened at $241.29 on Wednesday. The stock has a market cap of $6.86 billion, a PE ratio of 27.30 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 twelve month low of $106.01 and a twelve month high of $281.04. The stock has a fifty day simple moving average of $227.22 and a 200-day simple moving average of $227.19.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The business had revenue of $737.60 million during 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%. Equities analysts anticipate that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 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.