Williams & Novak LLC Invests $580,000 in Installed Building Products, Inc. (NYSE:IBP)

Williams & Novak LLC purchased a new position in Installed Building Products, Inc. (NYSE:IBP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,355 shares of the construction company’s stock, valued at approximately $580,000.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on IBP. 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. Royal Bank of Canada lifted their price target on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. 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 lifted their price target 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. Finally, The Goldman Sachs Group lifted 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and an average price target of $255.20.

Installed Building Products Trading Down 0.8 %

Installed Building Products stock opened at $236.93 on Tuesday. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The stock has a market capitalization of $6.74 billion, a P/E ratio of 26.80 and a beta of 1.94. The stock has a 50-day simple moving average of $226.16 and a 200 day simple moving average of $227.23.

Installed Building Products (NYSE:IBP) last posted its quarterly 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. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, September 13th. Installed Building Products’s dividend payout ratio is presently 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.