Fortress Financial Group LLC Takes $948,000 Position in Installed Building Products, Inc. $IBP

Fortress Financial Group LLC acquired a new position in Installed Building Products, Inc. (NYSE:IBP) in the second quarter, Holdings Channel.com reports. The fund acquired 4,123 shares of the construction company’s stock, valued at approximately $948,000.

Other hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Installed Building Products in the third quarter valued at about $25,000. NewEdge Advisors LLC grew its position in Installed Building Products by 5,000.0% during 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 last quarter. Meeder Asset Management Inc. acquired a new position in Installed Building Products during the 1st quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Installed Building Products in the second quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Installed Building Products by 700.0% during 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 period. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller bought 990 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the transaction, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Stephens dropped their price target on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Evercore set a $246.00 price objective on Installed Building Products in a report on Friday, August 7th. Wells Fargo & Company reduced their price objective on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, Truist Financial decreased their target price on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $249.30.

Installed Building Products Stock Performance

Shares of IBP stock opened at $246.88 on Friday. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The stock has a market cap of $6.56 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 4.63 and a beta of 1.70. The business has a 50-day simple moving average of $229.30 and a 200-day simple moving average of $257.12.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same period last year, the business earned $2.95 earnings per share. Installed Building Products’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s payout ratio is presently 16.79%.

Installed Building Products Profile

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.