Bamco Inc. NY Purchases 37,595 Shares of Installed Building Products, Inc. $IBP

Bamco Inc. NY increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 481,039 shares of the construction company’s stock after purchasing an additional 37,595 shares during the quarter. Bamco Inc. NY owned approximately 1.76% of Installed Building Products worth $86,741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eminence Capital LP purchased a new position in shares of Installed Building Products in the 1st quarter worth approximately $109,114,000. Timucuan Asset Management Inc. FL bought a new stake in Installed Building Products during the first quarter worth $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Installed Building Products by 190.9% in the first 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 boosted its position in Installed Building Products by 1,897.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company’s stock worth $32,061,000 after purchasing an additional 168,900 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Installed Building Products by 84.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock valued at $49,893,000 after purchasing an additional 126,435 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Insiders Place Their Bets

In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the sale, the insider owned 32,999 shares in the company, valued at $8,303,538.37. This represents a 13.16% 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, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the transaction, the director directly owned 8,373 shares of the company’s stock, valued at $2,246,308.44. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.20% of the company’s stock.

Installed Building Products Price Performance

NYSE IBP opened at $273.27 on Friday. The company has a market cap of $7.41 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 5.24 and a beta of 1.90. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $293.53. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. The firm’s 50-day simple moving average is $258.16 and its two-hundred day simple moving average is $232.69.

Installed Building Products (NYSE:IBP) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. During the same quarter last year, the company earned $2.85 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, December 15th. Installed Building Products’s payout ratio is currently 15.93%.

Analysts Set New Price Targets

A number of research firms have recently commented on IBP. Wall Street Zen upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Vertical Research started coverage on shares of Installed Building Products in a report on Monday, October 20th. They set a “sell” rating for the company. Evercore ISI set a $265.00 target price on shares of Installed Building Products in a research note on Thursday, November 6th. Zacks Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Wells Fargo & Company initiated coverage on shares of Installed Building Products in a research note on Monday, November 17th. They set an “equal weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $222.80.

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.