The Manufacturers Life Insurance Company Has $2.92 Million Stake in Installed Building Products, Inc. (NYSE:IBP)

The Manufacturers Life Insurance Company raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the construction company’s stock after buying an additional 627 shares during the period. The Manufacturers Life Insurance Company’s holdings in Installed Building Products were worth $2,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBP. C M Bidwell & Associates Ltd. lifted its stake in shares of Installed Building Products by 1,393.8% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock worth $44,000 after buying an additional 223 shares during the last quarter. Goodnow Investment Group LLC lifted its position 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 acquiring an additional 20,737 shares during the last quarter. Quarry LP lifted 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 worth $38,000 after acquiring an additional 57 shares during the last quarter. Virtu Financial LLC bought a new stake in Installed Building Products during the fourth quarter valued at about $864,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Installed Building Products by 14.1% in the first quarter. Los Angeles Capital Management LLC now owns 16,540 shares of the construction company’s stock valued at $4,279,000 after purchasing an additional 2,040 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Up 1.7 %

Shares of IBP opened at $241.08 on Wednesday. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $225.58 and a two-hundred day moving average price of $227.11. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 27.27 and a beta of 1.94. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $281.04.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million for 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%. Equities analysts predict that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was 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 (DPR) is presently 15.84%.

Analyst Ratings Changes

IBP has been the subject of several research analyst reports. Evercore ISI boosted their price objective on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Truist Financial upped their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target 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. Finally, Stephens restated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a report 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. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $255.20.

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.