Asset Management One Co. Ltd. Takes $121,000 Position in Installed Building Products, Inc. (NYSE:IBP)

Asset Management One Co. Ltd. acquired a new stake in Installed Building Products, Inc. (NYSE:IBP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 650 shares of the construction company’s stock, valued at approximately $121,000.

A number of other institutional investors also recently made changes to their positions in the business. Ziegler Capital Management LLC purchased a new position in Installed Building Products during the 4th quarter valued at about $3,618,000. Giverny Capital Inc. lifted its position in Installed Building Products by 1.1% during the 3rd quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock valued at $54,065,000 after acquiring an additional 4,542 shares during the period. Nordea Investment Management AB purchased a new position in Installed Building Products during the 4th quarter valued at about $269,000. William Blair Investment Management LLC purchased a new position in Installed Building Products during the 3rd quarter valued at about $18,661,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Installed Building Products during the 3rd quarter valued at about $378,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Loop Capital raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, January 8th. JPMorgan Chase & Co. cut shares of Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $199.00 to $242.00 in a report on Wednesday, February 28th. Truist Financial lifted their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at $9,324,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at $9,324,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares of the company’s stock, valued at $1,631,145.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,619 shares of company stock worth $1,606,732. 17.30% of the stock is owned by company insiders.

Installed Building Products Stock Performance

Shares of IBP stock opened at $240.76 on Monday. The company has a 50 day moving average price of $234.86 and a 200-day moving average price of $181.98. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76. The firm has a market capitalization of $6.83 billion, a PE ratio of 27.96, a P/E/G ratio of 1.48 and a beta of 1.89. 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 announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 earnings per share. As a group, equities research analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.66%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s payout ratio is 16.26%.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.