Congress Wealth Management LLC DE Purchases Shares of 54,998 Installed Building Products, Inc. (NYSE:IBP)

Congress Wealth Management LLC DE purchased a new stake in Installed Building Products, Inc. (NYSE:IBPGet Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,998 shares of the construction company’s stock, valued at approximately $7,684,000. Congress Wealth Management LLC DE owned approximately 0.19% of Installed Building Products at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Installed Building Products during the fourth quarter valued at about $97,000. GSA Capital Partners LLP acquired a new position in shares of Installed Building Products during the third quarter valued at about $208,000. Chase Investment Counsel Corp acquired a new position in shares of Installed Building Products during the fourth quarter valued at about $223,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its holdings in shares of Installed Building Products by 59.9% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 2,430 shares of the construction company’s stock valued at $260,000 after buying an additional 910 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Installed Building Products during the third quarter valued at about $289,000. 79.42% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products stock traded down $1.59 during midday trading on Monday, reaching $78.86. 1,687 shares of the stock were exchanged, compared to its average volume of 227,922. The company’s fifty day moving average is $95.37 and its 200-day moving average is $114.26. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.33 and a current ratio of 2.79. The firm has a market cap of $2.34 billion, a PE ratio of 20.06 and a beta of 1.87. Installed Building Products, Inc. has a 52 week low of $75.95 and a 52 week high of $141.43.

Installed Building Products (NYSE:IBPGet Rating) last posted its earnings results on Thursday, February 24th. The construction company reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.11). The firm had revenue of $533.72 million for the quarter, compared to the consensus estimate of $520.69 million. Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 6.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a $0.315 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.60%. Installed Building Products’s dividend payout ratio is 22.44%.

Several research firms recently weighed in on IBP. Jefferies Financial Group cut shares of Installed Building Products from a “buy” rating to a “hold” rating and cut their price target for the stock from $117.00 to $105.00 in a report on Monday, March 21st. Credit Suisse Group began coverage on shares of Installed Building Products in a report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price target on the stock. Zelman & Associates upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, December 23rd. Zacks Investment Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Installed Building Products from $127.00 to $101.00 and set a “neutral” rating on the stock in a report on Wednesday, March 30th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $121.67.

In other news, Director Lawrence A. Hilsheimer purchased 513 shares of the company’s stock in a transaction on Monday, February 28th. The stock was acquired at an average price of $97.30 per share, with a total value of $49,914.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.80% of the company’s stock.

Installed Building Products Company Profile (Get Rating)

Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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