Allianz Asset Management GmbH Raises Stock Position in Installed Building Products, Inc. $IBP

Allianz Asset Management GmbH grew its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 16.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,132 shares of the construction company’s stock after purchasing an additional 1,600 shares during the period. Allianz Asset Management GmbH’s holdings in Installed Building Products were worth $2,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IBP. GAMMA Investing LLC lifted its holdings in shares of Installed Building Products by 107.1% in the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company’s stock valued at $169,000 after acquiring an additional 510 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Installed Building Products by 27.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company’s stock valued at $379,000 after acquiring an additional 473 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Installed Building Products by 36.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company’s stock valued at $356,000 after acquiring an additional 557 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Installed Building Products by 1.7% in the 1st 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. Finally, Envestnet Asset Management Inc. lifted its stake in 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 purchasing an additional 12,126 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the subject of several analyst reports. DA Davidson downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and raised their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Evercore ISI set a $240.00 price target on shares of Installed Building Products in a research note on Tuesday, October 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 note on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group boosted their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus 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 business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares in the company, valued at $1,755,095.94. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total transaction of $390,754.00. Following the transaction, the director owned 6,873 shares of the company’s stock, valued at $1,828,218. This represents a 17.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,655 shares of company stock valued at $3,123,578. Company insiders own 16.20% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $267.43 on Friday. The firm’s fifty day simple moving average is $258.90 and its two-hundred day simple moving average is $209.26. 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 market capitalization of $7.31 billion, a P/E ratio of 29.75 and a beta of 1.83.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.50. The firm had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.84 earnings per share. Analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal 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 given a dividend of $0.37 per share. The ex-dividend date was 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 currently 16.46%.

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.