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GSA Capital Partners LLP Acquires Shares of 2,912 Installed Building Products, Inc. (NYSE:IBP)

Defense World · Sep 1, 2022 04:42

GSA Capital Partners LLP acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,912 shares of the construction company's stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBP. Envestnet Asset Management Inc. raised its stake in Installed Building Products by 19.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,226 shares of the construction company's stock valued at $3,664,000 after buying an additional 4,262 shares in the last quarter. American Century Companies Inc. raised its stake in Installed Building Products by 5.3% during the fourth quarter. American Century Companies Inc. now owns 8,069 shares of the construction company's stock valued at $1,127,000 after buying an additional 407 shares in the last quarter. ProShare Advisors LLC raised its stake in Installed Building Products by 62.3% during the fourth quarter. ProShare Advisors LLC now owns 5,919 shares of the construction company's stock valued at $828,000 after buying an additional 2,273 shares in the last quarter. Raymond James & Associates raised its stake in Installed Building Products by 13.6% during the fourth quarter. Raymond James & Associates now owns 4,205 shares of the construction company's stock valued at $588,000 after buying an additional 505 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Installed Building Products by 55.1% during the fourth quarter. Bank of America Corp DE now owns 85,399 shares of the construction company's stock valued at $11,932,000 after buying an additional 30,346 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on IBP. BTIG Research cut Installed Building Products from a "buy" rating to a "neutral" rating in a research note on Friday, August 5th. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a research report on Monday, August 8th. Loop Capital assumed coverage on Installed Building Products in a research report on Thursday, August 18th. They set a "hold" rating and a $110.00 price target on the stock. Truist Financial dropped their price target on Installed Building Products from $135.00 to $100.00 in a research report on Friday, May 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a research report on Wednesday, August 17th. They set a "hold" rating and a $108.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $106.83.

Installed Building Products Stock Performance

Shares of NYSE IBP opened at $90.56 on Thursday. The stock has a fifty day moving average price of $94.24 and a two-hundred day moving average price of $91.85. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.72 and a current ratio of 2.25. The firm has a market cap of $2.60 billion, a P/E ratio of 16.83 and a beta of 1.79. Installed Building Products, Inc. has a 1 year low of $69.44 and a 1 year high of $141.43.

Installed Building Products (NYSE:IBP – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.52. The firm had revenue of $676.70 million during the quarter, compared to analyst estimates of $611.12 million. Installed Building Products had a return on equity of 50.89% and a net margin of 6.85%. The firm's quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. Research analysts forecast that Installed Building Products, Inc. will post 8.05 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, September 14th. Installed Building Products's payout ratio is currently 23.42%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, Director Michael H. Thomas sold 2,491 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $101.05, for a total transaction of $251,715.55. Following the completion of the transaction, the director now directly owns 8,669 shares of the company's stock, valued at approximately $876,002.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.90% of the stock is currently owned by corporate insiders.

About Installed Building Products

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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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.