Handelsbanken Fonder AB Raises Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Handelsbanken Fonder AB increased its position in Installed Building Products, Inc. (NYSE:IBP) by 40.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,165 shares of the construction company’s stock after purchasing an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in Installed Building Products were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ziegler Capital Management LLC purchased a new stake in Installed Building Products in the fourth quarter worth $3,618,000. Giverny Capital Inc. grew its stake in shares of Installed Building Products by 1.1% in the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after acquiring an additional 4,542 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Installed Building Products in the fourth quarter worth $269,000. William Blair Investment Management LLC purchased a new stake in shares of Installed Building Products in the third quarter worth $18,661,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Installed Building Products in the third quarter worth $378,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 1.9 %

Shares of NYSE:IBP opened at $239.66 on Monday. The company has a market cap of $6.82 billion, a P/E ratio of 27.84 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. Installed Building Products, Inc. has a 1 year low of $103.50 and a 1 year high of $263.76. The stock’s fifty day moving average price is $239.93 and its 200-day moving average price is $189.63.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. During the same quarter in the prior year, the company earned $2.34 earnings per share. Installed Building Products’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were issued a $1.60 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a yield of 2.67%. Installed Building Products’s dividend payout ratio is currently 16.26%.

Insider Transactions at Installed Building Products

In other news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares of the company’s stock, valued at $1,631,145.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares of the company’s stock, valued at approximately $9,324,788.80. The disclosure for this sale can be found here. Insiders have sold 6,619 shares of company stock valued at $1,606,732 over the last quarter. 16.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Truist Financial increased their target price on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. Royal Bank of Canada increased their target price on Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

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