Van ECK Associates Corp Buys 6,116 Shares of Installed Building Products, Inc. (NYSE:IBP)

Van ECK Associates Corp lifted its stake in Installed Building Products, Inc. (NYSE:IBP) by 93.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,670 shares of the construction company’s stock after purchasing an additional 6,116 shares during the quarter. Van ECK Associates Corp’s holdings in Installed Building Products were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after purchasing an additional 101 shares in the last quarter. Annapolis Financial Services LLC boosted its position in shares of Installed Building Products by 45.7% in the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after purchasing an additional 53 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Installed Building Products in the 4th quarter worth approximately $33,000. GAMMA Investing LLC bought a new stake in shares of Installed Building Products in the 4th quarter worth approximately $76,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Installed Building Products in the 4th quarter worth approximately $121,000. 99.61% of the stock is owned by institutional investors.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at approximately $9,324,788.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock worth $1,606,732 in the last three months. Corporate insiders own 16.50% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $237.07 on Wednesday. The business’s fifty day moving average price is $242.89 and its 200-day moving average price is $195.90. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.53 and a beta of 1.91. 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.

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

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.70%. 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 dividend payout ratio is 16.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBP. Evercore ISI boosted their price target on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Finally, DA Davidson initiated coverage on Installed Building Products in a research report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

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