TD Asset Management Inc Buys 44,594 Shares of Installed Building Products, Inc. $IBP

TD Asset Management Inc boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,532 shares of the construction company’s stock after purchasing an additional 44,594 shares during the period. TD Asset Management Inc’s holdings in Installed Building Products were worth $82,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its holdings in shares of Installed Building Products by 21.4% in the fourth quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock valued at $31,973,000 after purchasing an additional 21,705 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Installed Building Products by 16.3% in the third quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company’s stock valued at $32,522,000 after purchasing an additional 18,487 shares in the last quarter. Watchtower Advisors LP lifted its stake in shares of Installed Building Products by 30.4% during the third quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company’s stock valued at $7,961,000 after buying an additional 7,534 shares during the period. First Trust Advisors LP lifted its stake in shares of Installed Building Products by 2.4% during the third quarter. First Trust Advisors LP now owns 399,510 shares of the construction company’s stock valued at $98,543,000 after buying an additional 9,489 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Installed Building Products by 107.3% during the fourth quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company’s stock valued at $2,393,000 after buying an additional 4,777 shares during the period. Institutional investors own 99.61% of the company’s stock.

Insider Activity

In other Installed Building Products news, insider Jason R. Niswonger acquired 455 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $214.80 per share, with a total value of $97,734.00. Following the completion of the transaction, the insider directly owned 17,122 shares of the company’s stock, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Thomas Miller acquired 2,400 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $207.82 per share, with a total value of $498,768.00. Following the transaction, the chief financial officer directly owned 33,219 shares of the company’s stock, valued at approximately $6,903,572.58. This represents a 7.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 4,046 shares of company stock valued at $844,194 in the last ninety days. 13.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. DA Davidson reissued a “neutral” rating and set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, May 11th. Finally, Truist Financial reduced their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $247.67.

Installed Building Products Stock Performance

Shares of IBP stock opened at $197.17 on Friday. Installed Building Products, Inc. has a one year low of $162.56 and a one year high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. The company has a 50 day moving average price of $251.76 and a 200 day moving average price of $275.90. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 5.00 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. During the same period last year, the company posted $2.08 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that Installed Building Products, Inc. will post 9.62 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products’s dividend payout ratio is 16.63%.

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.