Fifth Third Bancorp Reduces Stock Holdings in Installed Building Products, Inc. $IBP

Fifth Third Bancorp lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 27.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165 shares of the construction company’s stock after selling 62 shares during the quarter. Fifth Third Bancorp’s holdings in Installed Building Products were worth $30,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its position in Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Advisors Asset Management Inc. increased its position in Installed Building Products by 36.7% during the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after purchasing an additional 149 shares in the last quarter. Covestor Ltd increased its position in Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after purchasing an additional 267 shares in the last quarter. CWM LLC increased its position in Installed Building Products by 178.7% during the 1st quarter. CWM LLC now owns 588 shares of the construction company’s stock worth $101,000 after purchasing an additional 377 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Installed Building Products during the 1st quarter worth about $127,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $241.73 on Friday. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 26.89 and a beta of 1.83. The business has a 50 day simple moving average of $253.23 and a 200-day simple moving average of $200.58.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data 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 return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same quarter in the previous year, the firm posted $2.84 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on IBP. Zelman & Associates raised Installed Building Products from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and raised their price target for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada reissued an “underperform” rating and issued a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target on the stock. in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $217.36.

Insider Buying and Selling

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider owned 37,999 shares in the company, valued at $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. This trade represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,655 shares of company stock valued at $3,123,578 over the last ninety days. 16.20% of the stock is currently owned by company insiders.

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.