Integrity Alliance LLC. Purchases 3,982 Shares of Installed Building Products, Inc. $IBP

Integrity Alliance LLC. bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,982 shares of the construction company’s stock, valued at approximately $764,000.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in Installed Building Products in the first quarter worth about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Installed Building Products in the second quarter valued at approximately $31,000. USA Financial Formulas purchased a new stake in shares of Installed Building Products during the 3rd quarter valued at approximately $37,000. Parallel Advisors LLC raised its position in shares of Installed Building Products by 446.7% during the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Installed Building Products in the 2nd quarter valued at approximately $52,000. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Installed Building Products from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Wells Fargo & Company cut their price target on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Royal Bank Of Canada dropped their price objective on shares of Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating for the company in a research report on Friday. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. Finally, DA Davidson increased their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $229.92.

Key Installed Building Products News

Here are the key news stories impacting Installed Building Products this week:

• Positive Sentiment: Third-quarter revenue rose 3.9% year over year to a record $808.4 million, topping expectations of $787.7 million. IBP also declared a quarterly dividend of $0.39 per share. Company results and dividend announcement
• Neutral Sentiment: Truist raised its price target from $160 to $180 but maintained a Hold rating. The higher target is still below the stock’s cited $220.03 price, making the revision a mixed signal. Truist analyst recommendations
• Negative Sentiment: Adjusted EPS of $2.76 missed analyst expectations of about $2.83 and declined from $3.18 a year earlier. The earnings shortfall may weigh on sentiment despite the revenue beat. Quarterly results coverage
• Negative Sentiment: Royal Bank of Canada cut its price target from $208 to $194 and retained a Sector Perform rating, implying downside from the cited current price. Royal Bank of Canada analyst recommendations

Insider Buying and Selling

In other news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the sale, the director directly owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.80% of the stock is owned by company insiders.

Installed Building Products Stock Performance

NYSE:IBP opened at $220.03 on Friday. The firm has a market cap of $5.85 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 8.76 and a beta of 1.65. Installed Building Products, Inc. has a fifty-two week low of $176.15 and a fifty-two week high of $349.00. The business has a 50 day moving average price of $204.57 and a 200-day moving average price of $245.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.07). The company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $787.70 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $3.18 earnings per share. Equities research analysts predict that Installed Building Products, Inc. will post 9.75 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.