Inspire Investing LLC Increases Stock Position in Installed Building Products, Inc. $IBP

Inspire Investing LLC increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,649 shares of the construction company’s stock after buying an additional 253 shares during the period. Inspire Investing LLC’s holdings in Installed Building Products were worth $478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eminence Capital LP acquired a new stake in shares of Installed Building Products during the first quarter valued at about $109,114,000. Timucuan Asset Management Inc. FL acquired a new stake in Installed Building Products during the 1st quarter valued at approximately $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Installed Building Products by 190.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock worth $51,831,000 after purchasing an additional 198,391 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Installed Building Products by 1,897.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company’s stock valued at $32,061,000 after purchasing an additional 168,900 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Installed Building Products by 28.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company’s stock valued at $90,905,000 after purchasing an additional 117,810 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $239.07 on Monday. The firm’s 50 day moving average is $256.66 and its two-hundred day moving average is $203.17. 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 firm has a market capitalization of $6.53 billion, a P/E ratio of 26.59 and a beta of 1.83. 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, topping the consensus estimate of $2.45 by $0.50. The company had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.84 earnings per share. Analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Danske lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price objective for the company. in a report on Tuesday, August 12th. Loop Capital downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Finally, Jefferies Financial Group lifted their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average price target of $220.45.

Insider Buying and Selling at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction on 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 owned 6,822 shares in the company, valued at $1,755,095.94. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products 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 directly owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is owned by corporate insiders.

Installed Building Products Company 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.