Royal London Asset Management Ltd. has $19.99M position in Installed Building Products, Inc. (NYSE:IBP)

Royal London Asset Management Ltd. reduced its stake in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,189 shares of the construction company’s stock after selling 24,350 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Installed Building Products were worth $19,990,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in Installed Building Products in the 4th quarter valued at about $7,820,000. Vanguard Group Inc. raised its stake in shares of Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after buying an additional 18,890 shares during the period. Duality Advisers LP boosted its holdings in Installed Building Products by 32.2% in the first quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after acquiring an additional 3,389 shares in the last quarter. Goodnow Investment Group LLC boosted its stake in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after acquiring an additional 20,737 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new position in Installed Building Products in the first quarter valued at $564,000. Institutional investors and hedge funds own 99.61% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Stephens reiterated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Jefferies Financial Group upped their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Truist Financial raised their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday , August 2. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $255.20, based on data from MarketBeat.

See our latest report on installed building products

Stock of installed construction products down 0.5%

NYSE IBP opened at $205.75 on Thursday. The company has a fifty day moving average price of $224.28 and a two hundred day moving average price of $227.68. The stock has a market cap of $5.85 billion, a PE ratio of 23.27 and a beta of 1.93. Installed Building Products, Inc. it has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08, and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Installed building products had a return on equity of 44.93% and a net margin of 8.89%. Equities analysts expect Installed Building Products, Inc. to post 11.14 earnings per share for the current fiscal year.

Installed Building Products Announces Dividends

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 13. This represents a dividend of $1.40 on an annualized basis and a dividend yield of 0.68%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.84%.

Profile of installed construction products

(Free Report)

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fireproofing, fireproofing, garage doors, rain gutters, blinds, shower doors, cabinet shelves and mirrors and other products in the United States. . It operates through the Installation, Distribution and Manufacturing operating segments.

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