Ausbil Investment Management Ltd Invests $1.09 Million in Installed Building Products, Inc. (NYSE:IBP)

Ausbil Investment Management Ltd bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,762 shares of the construction company’s stock, valued at approximately $1,088,000.

A number of other large investors have also recently bought and sold shares of the business. Coppell Advisory Solutions Corp. acquired a new stake in shares of Installed Building Products during the 4th quarter worth approximately $49,000. Covestor Ltd grew its stake in shares of Installed Building Products by 112.4% in the 1st quarter. Covestor Ltd now owns 582 shares of the construction company’s stock valued at $49,000 after buying an additional 308 shares during the period. Strs Ohio bought a new stake in Installed Building Products in the 1st quarter valued at about $68,000. Benjamin Edwards Inc. increased its position in Installed Building Products by 115.0% in the 1st quarter. Benjamin Edwards Inc. now owns 645 shares of the construction company’s stock valued at $74,000 after buying an additional 345 shares in the last quarter. Finally, US Bancorp DE raised its stake in Installed Building Products by 291.4% during the 1st quarter. US Bancorp DE now owns 685 shares of the construction company’s stock worth $78,000 after buying an additional 510 shares during the period. 82.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Installed Building Products from $118.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. The Goldman Sachs Group boosted their target price on shares of Installed Building Products from $142.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Stephens raised their price target 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. Truist Financial boosted their price objective on Installed Building Products from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Royal Bank of Canada raised their target price on Installed Building Products from $111.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $146.25.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $1.15 during mid-day trading on Monday, reaching $128.70. 56,185 shares of the company’s stock were exchanged, compared to its average volume of 224,542. The firm has a 50-day moving average price of $145.04 and a two-hundred day moving average price of $126.80. 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 firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.81. Installed Building Products, Inc. has a 52 week low of $74.69 and a 52 week high of $158.18.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.21. The business had revenue of $692.10 million during 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%. Analysts predict that Installed Building Products, Inc. will post 9.09 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.03%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.58%.

Insider Activity at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $155.28, for a total value of $77,640.00. Following the completion of the sale, the chief accounting officer now directly owns 5,443 shares of the company’s stock, valued at $845,189.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.30% of the stock is owned by company insiders.

Installed Building Products Company 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.