Yousif Capital Management LLC Has $2.22 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Yousif Capital Management LLC increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,150 shares of the construction company’s stock after acquiring an additional 419 shares during the quarter. Yousif Capital Management LLC’s holdings in Installed Building Products were worth $2,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ziegler Capital Management LLC acquired a new position in shares of Installed Building Products in the fourth quarter worth approximately $3,618,000. Giverny Capital Inc. lifted its stake in shares of Installed Building Products by 1.1% in the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after acquiring an additional 4,542 shares during the period. Nordea Investment Management AB acquired a new position in shares of Installed Building Products in the fourth quarter worth approximately $269,000. William Blair Investment Management LLC acquired a new position in shares of Installed Building Products in the third quarter worth approximately $18,661,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Installed Building Products in the third quarter worth approximately $378,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Trading Down 3.1 %

NYSE IBP opened at $235.73 on Wednesday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 27.38 and a beta of 1.89. Installed Building Products, Inc. has a 52 week low of $103.50 and a 52 week high of $263.76. The business has a 50 day moving average price of $241.26 and a 200-day moving average price of $191.35. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, equities analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.40 annualized dividend and a yield of 2.71%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio is 16.26%.

Insider Buying and Selling

In related news, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares of the company’s stock, valued at approximately $9,324,788.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,619 shares of company stock worth $1,606,732. 16.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBP. Royal Bank of Canada lifted their price objective on Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Evercore ISI lifted their target price on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $199.00 to $242.00 in a report on Wednesday, February 28th. DA Davidson initiated coverage on Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price for the company. Finally, Truist Financial lifted their target price on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products has an average rating of “Moderate Buy” and an average target price of $208.40.

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.