Watchtower Advisors LP Acquires 7,534 Shares of Installed Building Products, Inc. $IBP

Watchtower Advisors LP grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 30.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,277 shares of the construction company’s stock after purchasing an additional 7,534 shares during the period. Installed Building Products comprises approximately 3.7% of Watchtower Advisors LP’s holdings, making the stock its 15th largest holding. Watchtower Advisors LP owned approximately 0.12% of Installed Building Products worth $7,961,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in Installed Building Products in the 3rd quarter worth about $33,000. Salomon & Ludwin LLC purchased a new stake in Installed Building Products in the 3rd quarter valued at about $42,000. Farther Finance Advisors LLC grew its stake in Installed Building Products by 31.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after acquiring an additional 54 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after acquiring an additional 54 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Installed Building Products during the third quarter worth approximately $106,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBP has been the topic of several research reports. Benchmark downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Vertical Research upgraded Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a research note on Friday, February 27th. Zacks Research downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company dropped their target price on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, Jefferies Financial Group boosted their price target on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $256.09.

Installed Building Products Stock Performance

Shares of IBP stock opened at $281.44 on Thursday. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $349.00. The business’s fifty day simple moving average is $307.67 and its 200-day simple moving average is $276.65. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. The company has a market cap of $7.59 billion, a PE ratio of 28.92, a PEG ratio of 4.08 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The firm had revenue of $747.50 million during the quarter, compared to analysts’ expectations of $738.97 million. During the same quarter last year, the firm earned $2.88 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $1.80 per share. The ex-dividend date is Friday, March 13th. This represents a dividend yield of 56.0%. Installed Building Products’s dividend payout ratio is 15.21%.

Insider Activity at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director directly owned 5,373 shares of the company’s stock, valued at $1,575,954.63. This trade represents a 20.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the completion of the sale, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. This trade represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.20% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.