Man Group plc Invests $3.13 Million in Installed Building Products, Inc. $IBP

Man Group plc bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, Holdings Channel.com reports. The fund bought 13,638 shares of the construction company’s stock, valued at approximately $3,135,000.

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

Installed Building Products Stock Down 1.4%

Shares of NYSE IBP opened at $242.22 on Tuesday. The stock has a market capitalization of $6.44 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.61 and a beta of 1.70. The company has a 50-day moving average price of $232.95 and a 200-day moving average price of $253.61. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41.

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

Installed Building Products Announces Dividend

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

Insider Buying and Selling at Installed Building Products

In related news, CFO Michael Thomas Miller bought 990 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IBP shares. Evercore set a $246.00 price target on shares of Installed Building Products in a report on Friday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th. Wells Fargo & Company reduced their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada set a $242.00 target price on Installed Building Products in a research report on Monday, May 11th. Finally, The Goldman Sachs Group dropped their price target on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $249.30.

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.