Hsbc Holdings PLC Buys Shares of 89,551 Installed Building Products, Inc. $IBP

Hsbc Holdings PLC bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 89,551 shares of the construction company’s stock, valued at approximately $20,435,000.

Several other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Installed Building Products by 21.4% during the 4th quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock worth $31,973,000 after acquiring an additional 21,705 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Installed Building Products by 36,067.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company’s stock valued at $14,260,000 after purchasing an additional 54,822 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Installed Building Products by 3.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock valued at $35,518,000 after purchasing an additional 5,042 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Installed Building Products by 51.8% in the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after purchasing an additional 101,967 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Installed Building Products in the 4th quarter worth approximately $32,359,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Trading Down 1.9%

NYSE:IBP opened at $241.24 on Friday. Installed Building Products, Inc. has a 52 week low of $193.11 and a 52 week high of $349.00. The firm has a 50 day moving average of $231.77 and a 200 day moving average of $254.83. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 4.61 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same period last year, the firm earned $2.95 earnings per share. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.79%.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a research report on Monday, May 11th. Finally, Wells Fargo & Company dropped their price objective on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus price target of $249.30.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller bought 990 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. This represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is owned by insiders.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.