E. Ohman J or Asset Management AB Buys 3,351 Shares of Installed Building Products, Inc. (NYSE:IBP)

E. Ohman J or Asset Management AB grew its stake in Installed Building Products, Inc. (NYSE:IBP) by 28.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,970 shares of the construction company’s stock after acquiring an additional 3,351 shares during the period. E. Ohman J or Asset Management AB’s holdings in Installed Building Products were worth $2,567,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IBP. First Trust Advisors LP grew its holdings in shares of Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock valued at $85,124,000 after acquiring an additional 199,657 shares in the last quarter. GAMMA Investing LLC grew its holdings in Installed Building Products by 35,416.8% during the first quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company’s stock worth $289,870,000 after purchasing an additional 168,584 shares during the period. Norges Bank bought a new position in Installed Building Products during the fourth quarter worth about $28,509,000. T. Rowe Price Investment Management Inc. grew its holdings in Installed Building Products by 87.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock worth $59,249,000 after purchasing an additional 158,173 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Installed Building Products during the fourth quarter worth about $23,776,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 2.4%

Shares of IBP stock opened at $165.71 on Friday. The firm has a 50 day moving average price of $164.10 and a two-hundred day moving average price of $179.36. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.58 billion, a PE ratio of 18.41 and a beta of 1.73. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $281.04.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $2.47 earnings per share. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.89%. Installed Building Products’s payout ratio is 16.88%.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of research analyst reports. DA Davidson reduced their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Benchmark reduced their price target on Installed Building Products from $210.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 9th. Loop Capital reduced their price target on Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 12th. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $212.45.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.