Sone Capital Management LLC Buys Shares of 4,692 Installed Building Products, Inc. $IBP

Sone Capital Management LLC purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,692 shares of the construction company’s stock, valued at approximately $1,078,000.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Price T Rowe Associates Inc. MD grew its position in Installed Building Products by 26.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after acquiring an additional 328,725 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Installed Building Products by 4,659.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock worth $30,996,000 after purchasing an additional 168,285 shares in the last quarter. Paralel Advisors LLC bought a new stake in shares of Installed Building Products during the second quarter worth $37,924,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Installed Building Products during the second quarter worth $37,771,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 note on Monday, August 10th. Truist Financial lowered their target price on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada set a $242.00 target price on Installed Building Products in a report on Monday, May 11th. Stephens reduced 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 report on Friday, May 8th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $249.30.

Installed Building Products Price Performance

Installed Building Products stock opened at $245.00 on Tuesday. The stock’s 50 day moving average price is $230.02 and its two-hundred day moving average price is $256.50. Installed Building Products, Inc. has a 52-week low of $193.11 and a 52-week high of $349.00. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 4.63 and a beta of 1.70. 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 released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 EPS. On average, equities analysts predict that Installed Building Products, Inc. will post 9.82 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s payout ratio is currently 16.79%.

Insider Buying and Selling

In related news, CFO Michael Thomas Miller acquired 990 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer directly owned 34,209 shares in the company, valued at $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.80% of the company’s stock.

Installed Building Products Company 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.