GAMMA Investing LLC Raises Stake in Installed Building Products, Inc. $IBP

GAMMA Investing LLC raised its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 18.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168 shares of the construction company’s stock after purchasing an additional 182 shares during the quarter. GAMMA Investing LLC’s holdings in Installed Building Products were worth $211,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IBP. Fifth Third Bancorp lifted its holdings in shares of Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock worth $39,000 after buying an additional 97 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Installed Building Products by 27.2% in the first quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company’s stock worth $379,000 after buying an additional 473 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Installed Building Products by 36.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company’s stock worth $356,000 after buying an additional 557 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Installed Building Products by 1.7% in the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock worth $716,000 after buying an additional 68 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Installed Building Products by 13.0% in the first quarter. Envestnet Asset Management Inc. now owns 105,729 shares of the construction company’s stock worth $18,128,000 after buying an additional 12,126 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $249.36 on Monday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 27.74 and a beta of 1.76. The firm’s fifty day moving average is $248.71 and its 200 day moving average is $198.42. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00.

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

Installed Building Products Dividend Announcement

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

Insider Activity

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the transaction, the chief operating officer owned 8,736 shares in the company, valued at $2,404,933.44. The trade was 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 link. Also, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction 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 transaction, the insider owned 37,999 shares in the company, valued at $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBP. DA Davidson downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and boosted their target price for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Royal Bank Of Canada reissued an “underperform” rating and issued a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Finally, Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $217.36.

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.