Nordea Investment Management AB Takes Position in Installed Building Products, Inc. (NYSE:IBP)

Nordea Investment Management AB bought a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,462 shares of the construction company’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also made changes to their positions in IBP. BlackRock Inc. lifted its holdings in shares of Installed Building Products by 10.0% in the 1st quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after purchasing an additional 405,604 shares during the last quarter. Vanguard Group Inc. increased its position in Installed Building Products by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after acquiring an additional 329,661 shares during the period. Driehaus Capital Management LLC increased its position in Installed Building Products by 67.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 540,850 shares of the construction company’s stock valued at $75,806,000 after acquiring an additional 217,671 shares during the period. Stephens Investment Management Group LLC acquired a new position in Installed Building Products in the 2nd quarter valued at about $29,964,000. Finally, Norges Bank acquired a new position in Installed Building Products in the 4th quarter valued at about $16,658,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.0 %

Shares of Installed Building Products stock opened at $255.38 on Thursday. Installed Building Products, Inc. has a fifty-two week low of $103.50 and a fifty-two week high of $260.89. The firm has a market cap of $7.25 billion, a PE ratio of 29.66, a P/E/G ratio of 1.57 and a beta of 1.89. The business’s fifty day moving average is $220.61 and its two-hundred day moving average is $171.15. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.03. The business had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $2.34 EPS. Analysts anticipate that Installed Building Products, Inc. will post 11.25 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 31st. Investors of record on Friday, March 15th will be given a $1.60 dividend. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Wall Street Analyst Weigh In

IBP has been the topic of several recent research reports. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. DA Davidson assumed coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Truist Financial boosted their target price on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.80.

Insider Buying and Selling

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,619 shares of company stock valued at $1,606,732. 17.90% of the stock is currently 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.