Edgestream Partners L.P. Acquires Shares of 11,599 Installed Building Products, Inc. (NYSE:IBP)

Edgestream Partners L.P. bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,599 shares of the construction company’s stock, valued at approximately $2,386,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after buying an additional 101 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products during the first quarter worth approximately $29,000. Quarry LP increased its holdings in shares of Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after acquiring an additional 57 shares during the period. C M Bidwell & Associates Ltd. raised its position in Installed Building Products by 1,393.8% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after purchasing an additional 223 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Installed Building Products by 58.7% during the 4th quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock worth $48,000 after purchasing an additional 98 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Jefferies Financial Group upped 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 lifted their target price 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. Royal Bank of Canada upped their price target 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. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Trading Down 0.8 %

NYSE:IBP opened at $236.25 on Thursday. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year 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 fifty day moving average price of $226.69 and a two-hundred day moving average price of $227.14. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 26.73 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to the consensus estimate 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio is currently 15.84%.

Installed Building Products 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.