Norges Bank Invests $37.58 Million in Installed Building Products, Inc. (NYSE:IBP)

Norges Bank acquired a new position in Installed Building Products, Inc. (NYSE:IBPFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 205,574 shares of the construction company’s stock, valued at approximately $37,583,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Panagora Asset Management Inc. acquired a new stake in shares of Installed Building Products in the fourth quarter worth $7,820,000. Channing Capital Management LLC acquired a new position in Installed Building Products during the 4th quarter valued at $58,696,000. Ziegler Capital Management LLC acquired a new position in Installed Building Products during the 4th quarter valued at $3,618,000. Van ECK Associates Corp raised its stake in Installed Building Products by 93.3% during the 4th quarter. Van ECK Associates Corp now owns 12,670 shares of the construction company’s stock valued at $2,316,000 after purchasing an additional 6,116 shares during the last quarter. Finally, Giverny Capital Inc. raised its stake 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 purchasing an additional 4,542 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Installed Building Products

In other news, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the sale, the director now directly owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,741 shares of company stock valued at $3,434,893. 16.50% of the stock is owned by insiders.

Installed Building Products Trading Up 1.9 %

Shares of Installed Building Products stock opened at $209.59 on Friday. The company’s fifty day moving average price is $235.36 and its two-hundred day moving average price is $206.86. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. 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 $5.96 billion, a PE ratio of 23.71 and a beta of 1.91.

Installed Building Products (NYSE:IBPGet Free Report) last posted its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. On average, analysts expect that Installed Building Products, Inc. will post 11.23 EPS for the current year.

Installed Building Products Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, June 14th. Installed Building Products’s payout ratio is 15.84%.

Analyst Ratings Changes

IBP has been the subject of several research analyst reports. Benchmark upped their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Truist Financial upped their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Loop Capital upped their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 10th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Finally, DA Davidson started coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.30.

View Our Latest Report on Installed Building Products

About Installed Building Products

(Free Report)

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.

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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