Hexagon Capital Partners LLC Increases Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Hexagon Capital Partners LLC grew its holdings in Installed Building Products, Inc. (NYSE:IBP) by 253.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145 shares of the construction company’s stock after buying an additional 104 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Installed Building Products were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in Installed Building Products by 6.6% during the third quarter. Raymond James & Associates now owns 27,899 shares of the construction company’s stock worth $3,484,000 after buying an additional 1,726 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Installed Building Products by 55.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,125 shares of the construction company’s stock valued at $1,015,000 after purchasing an additional 2,913 shares in the last quarter. Strs Ohio raised its holdings in Installed Building Products by 40.0% during the third quarter. Strs Ohio now owns 1,400 shares of the construction company’s stock worth $174,000 after purchasing an additional 400 shares during the last quarter. Inspire Investing LLC boosted its position in Installed Building Products by 6.0% during the third quarter. Inspire Investing LLC now owns 2,818 shares of the construction company’s stock worth $352,000 after purchasing an additional 159 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Installed Building Products by 25.2% in the third quarter. TD Asset Management Inc now owns 19,400 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Evercore ISI raised their price target on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Truist Financial increased their price objective on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Loop Capital raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, JPMorgan Chase & Co. downgraded shares of Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $199.00 to $242.00 in a report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.40.

Insider Buying and Selling

In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares in the company, valued at $1,675,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the transaction, the chief financial officer now directly owns 38,320 shares in the company, valued at approximately $9,324,788.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,619 shares of company stock valued at $1,606,732. Corporate insiders own 16.50% of the company’s stock.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $243.63 on Friday. The stock has a market capitalization of $6.93 billion, a P/E ratio of 28.30 and a beta of 1.91. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. The business’s fifty day moving average price is $242.65 and its 200 day moving average price is $192.94. Installed Building Products, Inc. has a twelve month low of $103.50 and a twelve month high of $263.76.

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

Installed Building Products Increases Dividend

The business also recently announced 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. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

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.