Installed Building Products (NYSE:IBP) Sets New 52-Week High at $122.91

Defense World · Apr 22, 2023 04:43

Installed Building Products, Inc. (NYSE:IBP – Get Rating)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $122.91 and last traded at $122.91, with a volume of 17767 shares. The stock had previously closed at $119.67.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com lowered Installed Building Products from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft upgraded Installed Building Products from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $90.00 to $124.00 in a research note on Tuesday, January 10th. Finally, Royal Bank of Canada lifted their price objective on Installed Building Products from $79.00 to $85.00 and gave the stock an "underperform" rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $103.75.

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Installed Building Products Stock Up 0.3 %

The stock has a market capitalization of $3.47 billion, a P/E ratio of 15.75 and a beta of 1.69. The firm has a 50 day moving average of $111.77 and a 200-day moving average of $97.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.70 and a quick ratio of 2.16.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were paid a $1.23 dividend. This is a positive change from Installed Building Products's previous quarterly dividend of $0.32. This represents a $4.92 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Tuesday, March 14th. Installed Building Products's dividend payout ratio is currently 17.01%.

Insider Activity

In other news, CEO Jeffrey W. Edwards sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $115.91, for a total value of $5,795,500.00. Following the sale, the chief executive officer now directly owns 1,591,194 shares in the company, valued at approximately $184,435,296.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $107.32, for a total value of $53,660.00. Following the transaction, the chief accounting officer now directly owns 7,032 shares of the company's stock, valued at approximately $754,674.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $115.91, for a total value of $5,795,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,591,194 shares in the company, valued at $184,435,296.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,826 shares of company stock worth $13,806,231. Company insiders own 17.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. acquired a new position in shares of Installed Building Products in the 4th quarter worth approximately $26,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Installed Building Products in the 4th quarter worth approximately $49,000. Covestor Ltd lifted its holdings in Installed Building Products by 112.4% during the 1st quarter. Covestor Ltd now owns 582 shares of the construction company's stock worth $49,000 after buying an additional 308 shares in the last quarter. State of Wyoming lifted its holdings in Installed Building Products by 24.4% during the 4th quarter. State of Wyoming now owns 913 shares of the construction company's stock worth $78,000 after buying an additional 179 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its holdings in Installed Building Products by 57.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 1,683 shares of the construction company's stock worth $137,000 after buying an additional 611 shares in the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

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Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.