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

Intech Investment Management LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,826 shares of the construction company's stock, valued at approximately $581,000.

A number of other institutional investors have also recently made changes to their positions in the business. Swedbank AB acquired a new stake in Installed Building Products in the first quarter worth about $96,248,000. Norges Bank acquired a new stake in shares of Installed Building Products during the fourth quarter worth about $37,583,000. Price T Rowe Associates Inc. MD raised its stake in shares of Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock worth $51,107,000 after buying an additional 183,696 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Installed Building Products by 3,919.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company's stock valued at $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Installed Building Products by 2,912.0% during the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company's stock worth $15,488,000 after purchasing an additional 72,800 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on IBP. The Goldman Sachs Group lifted their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on Installed Building Products from $239.00 to $250.00 and gave the stock a "hold" rating in a research note on Wednesday, July 17th. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Finally, Stephens restated an "equal weight" rating and set a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Installed Building Products presently has a consensus rating of "Hold" and an average target price of $255.20.

Installed Building Products Price Performance

Installed Building Products stock traded up $5.34 during mid-day trading on Friday, hitting $250.40. 263,740 shares of the company were exchanged, compared to its average volume of 294,685. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $281.04. The company has a market capitalization of $7.12 billion, a P/E ratio of 27.70 and a beta of 1.93. The business's 50 day simple moving average is $227.19 and its two-hundred day simple moving average is $227.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.56%. Installed Building Products's payout ratio is 15.84%.

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.