Mutual of America Capital Management LLC raised its holdings in Installed Building Products, Inc. (NYSE:IBP – Get Rating) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,382 shares of the construction company’s stock after acquiring an additional 175 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Installed Building Products were worth $286,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd acquired a new position in shares of Installed Building Products during the 4th quarter worth $38,000. Strs Ohio acquired a new position in shares of Installed Building Products during the 4th quarter worth $97,000. Alphasimplex Group LLC acquired a new position in shares of Installed Building Products during the 4th quarter worth $208,000. Chase Investment Counsel Corp acquired a new position in shares of Installed Building Products during the 4th quarter worth $223,000. Finally, Pictet Asset Management SA acquired a new position in shares of Installed Building Products during the 4th quarter worth $230,000. Institutional investors and hedge funds own 98.94% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on IBP shares. JPMorgan Chase & Co. cut their price target on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, April 20th. Credit Suisse Group began coverage on Installed Building Products in a research report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price objective for the company. BTIG Research dropped their price objective on Installed Building Products from $124.00 to $108.00 in a research report on Friday, May 6th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, Truist Financial dropped their price objective on Installed Building Products from $135.00 to $100.00 in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $106.00.
Installed Building Products Stock Up 0.4 %
Installed Building Products (NYSE:IBP – Get Rating) last issued its earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.46. The business had revenue of $587.50 million during the quarter, compared to analysts’ expectations of $541.59 million. Installed Building Products had a return on equity of 45.84% and a net margin of 6.38%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Equities analysts forecast that Installed Building Products, Inc. will post 7.16 earnings per share for the current year.
Installed Building Products Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 1.24%. The ex-dividend date was Tuesday, June 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 27.57%.
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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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