Yousif Capital Management LLC Has $1.51 Million Holdings in Installed Building Products, Inc. (NYSE:IBP)

Posted by Defense World Staff on Aug 2nd, 2023

Yousif Capital Management LLC cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,216 shares of the construction company’s stock after selling 1,710 shares during the period. Yousif Capital Management LLC’s holdings in Installed Building Products were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in Installed Building Products by 12.0% during the first quarter. Nisa Investment Advisors LLC now owns 7,466 shares of the construction company’s stock worth $851,000 after acquiring an additional 800 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Installed Building Products in the first quarter valued at approximately $223,000. Texas Permanent School Fund Corp raised its position in shares of Installed Building Products by 33.4% in the first quarter. Texas Permanent School Fund Corp now owns 21,034 shares of the construction company’s stock valued at $2,399,000 after buying an additional 5,266 shares in the last quarter. ACR Alpine Capital Research LLC raised its position in shares of Installed Building Products by 5.2% in the first quarter. ACR Alpine Capital Research LLC now owns 6,329 shares of the construction company’s stock valued at $722,000 after buying an additional 310 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Installed Building Products in the first quarter valued at approximately $565,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $114.24, for a total value of $57,120.00. Following the transaction, the chief accounting officer now owns 5,943 shares in the company, valued at $678,928.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $114.24, for a total value of $57,120.00. Following the transaction, the chief accounting officer now owns 5,943 shares in the company, valued at $678,928.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Janet E. Jackson sold 697 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $115.26, for a total transaction of $80,336.22. Following the completion of the transaction, the director now owns 8,413 shares in the company, valued at approximately $969,682.38. The disclosure for this sale can be found here. Insiders have sold a total of 51,197 shares of company stock valued at $6,117,956 over the last 90 days. 17.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Installed Building Products in a research report on Wednesday, May 3rd. They issued a “neutral” rating for the company. Loop Capital lifted their price target on shares of Installed Building Products from $120.00 to $150.00 in a research report on Friday, June 30th. Jefferies Financial Group lifted their price target on shares of Installed Building Products from $118.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, July 13th. Royal Bank of Canada raised shares of Installed Building Products from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $85.00 to $111.00 in a research note on Friday, May 5th. Finally, StockNews.com began coverage on shares of Installed Building Products in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $126.00.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $148.80 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.73 and a debt-to-equity ratio of 1.66. Installed Building Products, Inc. has a twelve month low of $74.69 and a twelve month high of $150.88. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 17.80 and a beta of 1.76. The company’s fifty day moving average is $130.19 and its 200 day moving average is $118.33.

Installed Building Products (NYSE:IBP – Get Free Report) last issued its quarterly earnings data on Thursday, May 4th. The construction company reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.15). Installed Building Products had a return on equity of 57.73% and a net margin of 8.71%. The business had revenue of $659.31 million during the quarter, compared to the consensus estimate of $698.36 million. Sell-side analysts forecast that Installed Building Products, Inc. will post 8.37 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.32 annualized dividend and a dividend yield of 0.89%. Installed Building Products’s dividend payout ratio is 15.79%.

About Installed Building Products

(Free Report)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.