Itau Unibanco Holding S.A. Acquires New Holdings in Installed Building Products, Inc. (NYSE:IBP)

Itau Unibanco Holding S.A. bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 700 shares of the construction company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Installed Building Products by 16.9% in the first quarter. JPMorgan Chase & Co. now owns 20,337 shares of the construction company’s stock worth $1,718,000 after purchasing an additional 2,940 shares during the period. Bank of Montreal Can boosted its holdings in shares of Installed Building Products by 2.6% in the 1st quarter. Bank of Montreal Can now owns 8,295 shares of the construction company’s stock worth $730,000 after buying an additional 209 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Installed Building Products by 51.7% in the 1st quarter. MetLife Investment Management LLC now owns 12,596 shares of the construction company’s stock worth $1,064,000 after buying an additional 4,291 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Installed Building Products by 8.9% in the 1st quarter. Rhumbline Advisers now owns 58,380 shares of the construction company’s stock worth $4,933,000 after purchasing an additional 4,791 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Installed Building Products by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,232 shares of the construction company’s stock worth $1,709,000 after acquiring an additional 2,494 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Insiders Place Their Bets

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $119.61, for a total value of $5,980,500.00. Following the transaction, the chief executive officer now directly owns 2,747,819 shares in the company, valued at $328,666,630.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $155.28, for a total value of $77,640.00. Following the transaction, the chief accounting officer now directly owns 5,443 shares in the company, valued at $845,189.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey W. Edwards sold 50,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $119.61, for a total transaction of $5,980,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,747,819 shares in the company, valued at approximately $328,666,630.59. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IBP. Truist Financial raised their price objective on shares of Installed Building Products from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Jefferies Financial Group raised their price target on Installed Building Products from $118.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, July 13th. The Goldman Sachs Group upped their price target on shares of Installed Building Products from $142.00 to $158.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Seaport Res Ptn reiterated a “buy” rating on shares of Installed Building Products in a research report on Tuesday, August 1st. Finally, Stephens boosted their price objective on shares of Installed Building Products from $140.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $146.25.

Installed Building Products Trading Up 1.1 %

Shares of NYSE IBP opened at $146.30 on Friday. Installed Building Products, Inc. has a 1 year low of $74.69 and a 1 year high of $158.18. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.92 and a quick ratio of 2.40. The stock has a market cap of $4.16 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.78. The firm has a 50-day moving average of $145.04 and a 200 day moving average of $124.96.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.31 by $0.21. The company had revenue of $692.10 million for the quarter, compared to the consensus estimate of $667.03 million. Installed Building Products had a net margin of 8.73% and a return on equity of 53.06%. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 8.37 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, September 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.58%.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.