The Manufacturers Life Insurance Company Buys New Position in Installed Building Products, Inc. $IBP

The Manufacturers Life Insurance Company bought a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 11,896 shares of the construction company’s stock, valued at approximately $2,734,000.

Several other institutional investors also recently bought and sold shares of IBP. Danske Bank A S acquired a new stake in shares of Installed Building Products during the third quarter worth about $25,000. NewEdge Advisors LLC grew its holdings in shares of Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Installed Building Products in the first quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new stake in Installed Building Products during the 2nd quarter worth approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after buying an additional 133 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on IBP shares. Truist Financial decreased their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. DA Davidson increased their price objective on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wells Fargo & Company decreased their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Evercore set a $246.00 target price on Installed Building Products in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $249.30.

Insider Activity 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 price of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This represents a 2.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.80% of the company’s stock.

Installed Building Products Stock Up 0.6%

Shares of NYSE:IBP opened at $235.60 on Thursday. The firm’s 50 day moving average price is $233.66 and its 200 day moving average price is $252.21. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 4.39 and a beta of 1.71. Installed Building Products, Inc. has a fifty-two week low of $193.11 and a fifty-two week high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping 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 analysts’ expectations of $743.33 million. During the same quarter in the previous year, the business posted $2.95 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products’s payout ratio is presently 16.79%.

About Installed Building Products

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.