FORA Capital LLC Takes Position in Installed Building Products, Inc. (NYSE:IBP)

FORA Capital LLC purchased a new position in Installed Building Products, Inc. (NYSE:IBP) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,342 shares of the construction company’s stock, valued at approximately $586,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBP. Curio Wealth LLC purchased a new position in shares of Installed Building Products in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC boosted its stake in Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the period. Headlands Technologies LLC grew its position in Installed Building Products by 819.0% during the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock worth $127,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. raised its stake in Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after purchasing an additional 186 shares during the period. Finally, MGO One Seven LLC purchased a new stake in shares of Installed Building Products in the fourth quarter valued at $205,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

IBP opened at $161.20 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company has a market cap of $4.45 billion, a PE ratio of 17.91 and a beta of 1.85. The stock has a 50-day moving average of $168.82 and a 200-day moving average of $186.99. Installed Building Products, Inc. has a 52-week low of $151.27 and a 52-week high of $281.04.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter last year, the business earned $2.47 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, June 13th. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IBP shares. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price target on the stock. Truist Financial reduced their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Loop Capital lowered their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Benchmark lowered their price target on shares of Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $213.82.

Installed Building Products 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.