Amundi Lowers Holdings in Installed Building Products, Inc. $IBP

Amundi lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 22.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,310 shares of the construction company’s stock after selling 2,714 shares during the period. Amundi’s holdings in Installed Building Products were worth $1,525,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IBP. Cetera Investment Advisers raised its position in shares of Installed Building Products by 9.0% in the fourth quarter. Cetera Investment Advisers now owns 5,341 shares of the construction company’s stock worth $936,000 after acquiring an additional 441 shares during the period. Deutsche Bank AG raised its position in shares of Installed Building Products by 8.6% in the fourth quarter. Deutsche Bank AG now owns 87,360 shares of the construction company’s stock worth $15,310,000 after acquiring an additional 6,925 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Installed Building Products in the fourth quarter worth about $263,000. Jefferies Financial Group Inc. acquired a new position in shares of Installed Building Products in the fourth quarter worth about $823,000. Finally, Janus Henderson Group PLC raised its position in shares of Installed Building Products by 5.4% in the fourth quarter. Janus Henderson Group PLC now owns 15,351 shares of the construction company’s stock worth $2,691,000 after acquiring an additional 780 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insider Activity

In other news, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the sale, the chief accounting officer owned 6,822 shares of the company’s stock, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the completion of the sale, the insider directly owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,655 shares of company stock worth $3,123,578. Corporate insiders own 16.20% of the company’s stock.

Installed Building Products Stock Down 1.5%

IBP stock opened at $268.07 on Friday. The company 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 current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00. The firm has a 50-day moving average of $236.13 and a two-hundred day moving average of $192.13.

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

Installed Building Products Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio is 16.46%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBP. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Danske downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target for the company. in a research report on Tuesday, August 12th. DA Davidson downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and upped their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $217.36.

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.