Hsbc Holdings PLC Boosts Position in Installed Building Products, Inc. $IBP

Hsbc Holdings PLC raised its position in Installed Building Products, Inc. (NYSE:IBP) by 782.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,975 shares of the construction company’s stock after acquiring an additional 24,805 shares during the quarter. Hsbc Holdings PLC’s holdings in Installed Building Products were worth $7,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S bought a new stake in shares of Installed Building Products during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC lifted its stake in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after buying an additional 133 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Installed Building Products in the fourth quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Installed Building Products during the third quarter valued at approximately $46,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $223.35 on Friday. The stock’s 50-day simple moving average is $216.46 and its 200-day simple moving average is $265.27. Installed Building Products, Inc. has a 52 week low of $193.11 and a 52 week high of $349.00. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 5.39 and a beta of 1.69. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. As a group, analysts expect that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.39 per share. The ex-dividend date was Monday, June 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial reduced their price objective on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company reduced their price target on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Stephens lowered their price target on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus price target of $247.67.

Insider Activity at Installed Building Products

In related news, insider Jason R. Niswonger purchased 455 shares of Installed Building Products stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the acquisition, the insider owned 17,122 shares in the company, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brad A. Wheeler acquired 716 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $209.13 per share, with a total value of $149,737.08. Following the acquisition, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 5,036 shares of company stock worth $1,042,807 in the last three months. Insiders own 13.80% 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.