HBW Advisory Services LLC Takes Position in Installed Building Products, Inc. (NYSE:IBP)

HBW Advisory Services LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 905 shares of the construction company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Rafferty Asset Management LLC grew its stake in shares of Installed Building Products by 21.8% during the 4th quarter. Rafferty Asset Management LLC now owns 16,990 shares of the construction company’s stock valued at $3,106,000 after buying an additional 3,045 shares during the period. C M Bidwell & Associates Ltd. increased 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 worth $44,000 after purchasing an additional 223 shares in the last quarter. Goodnow Investment Group LLC raised its holdings in Installed Building Products by 28.9% in the fourth quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after buying an additional 20,737 shares during the period. Quarry LP lifted its position in Installed Building Products by 37.5% during 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 in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Installed Building Products during the fourth quarter worth approximately $864,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Down 1.1 %

Shares of Installed Building Products stock opened at $238.77 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 27.01 and a beta of 1.94. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month 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. The business’s 50 day simple moving average is $226.74 and its 200-day simple moving average is $227.51.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping 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 analyst estimates of $743.86 million. Equities research analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, September 13th. Installed Building Products’s payout ratio is 15.84%.

Analysts Set New Price Targets

IBP has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Truist Financial upped their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group upped their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Stephens reiterated an “equal weight” rating and set a $240.00 price objective 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 given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average target price 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.