Advisors Asset Management Inc. Boosts Position in Installed Building Products, Inc. $IBP

Advisors Asset Management Inc. boosted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 36.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 555 shares of the construction company’s stock after acquiring an additional 149 shares during the quarter. Advisors Asset Management Inc.’s holdings in Installed Building Products were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. McIlrath & Eck LLC increased its position in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares during the last quarter. Xponance Inc. increased its position in Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company’s stock valued at $309,000 after acquiring an additional 67 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock valued at $716,000 after acquiring an additional 68 shares during the last quarter. TD Private Client Wealth LLC increased its position in Installed Building Products by 7.1% during the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company’s stock valued at $194,000 after acquiring an additional 75 shares during the last quarter. Finally, State of Wyoming grew its holdings in Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock valued at $147,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE IBP opened at $268.07 on Friday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 29.82 and a beta of 1.76. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $236.13 and a 200-day moving average price of $192.13. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.50. The firm had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.84 earnings per share. As a group, equities research analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio is 16.46%.

Analysts Set New Price Targets

IBP has been the subject of several recent research reports. Loop Capital lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a report on Friday, August 8th. Jefferies Financial Group boosted their price target on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and boosted their price target for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Royal Bank Of Canada reissued an “underperform” rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Finally, Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $217.36.

Insiders Place Their Bets

In other news, COO Brad A. Wheeler sold 3,186 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the completion of the transaction, the chief operating officer owned 8,736 shares of the company’s stock, valued at $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by insiders.

Installed Building Products Profile

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.