Grandeur Peak Global Advisors LLC Grows Position in Installed Building Products, Inc. $IBP

Grandeur Peak Global Advisors LLC raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 48.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,180 shares of the construction company’s stock after acquiring an additional 3,984 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Installed Building Products were worth $2,799,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IBP. MGO One Seven LLC grew its stake in shares of Installed Building Products by 3.1% in the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Abel Hall LLC lifted its position in shares of Installed Building Products by 2.8% during the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock valued at $342,000 after purchasing an additional 35 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Installed Building Products by 2.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock valued at $472,000 after purchasing an additional 35 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Installed Building Products by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock worth $860,000 after purchasing an additional 35 shares during the last quarter. Finally, Petros Family Wealth LLC boosted its holdings in Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock worth $240,000 after purchasing an additional 40 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP opened at $246.12 on Monday. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00. The company has a 50-day simple moving average of $232.34 and a 200 day simple moving average of $254.28. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The company has a market capitalization of $6.54 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 4.61 and a beta of 1.70.

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

Installed Building Products Dividend Announcement

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

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $200.62 per share, with a total value of $198,613.80. Following the acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBP shares. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Wells Fargo & Company cut their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Truist Financial reduced 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. Evercore set a $246.00 price target on Installed Building Products in a research report on Friday, August 7th. Finally, DA Davidson lifted their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $249.30.

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.