American Century Companies Inc. Sells 1,112 Shares of Installed Building Products, Inc. $IBP

Key Points

• American Century Companies Inc. has decreased its stake in Installed Building Products, Inc. by 2.9% during the 1st quarter, now holding 37,753 shares valued at approximately $6.5 million.
• Installed Building Products reported a $2.95 EPS for the quarter, exceeding expectations, with revenue increasing by 3.1% year-over-year and totaling $760.30 million.
• The company has announced a quarterly dividend of $0.37 per share, with a yield of 0.6%, set to be paid on September 30th to investors of record.

American Century Companies Inc. reduced its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,753 shares of the construction company's stock after selling 1,112 shares during the quarter. American Century Companies Inc. owned 0.14% of Installed Building Products worth $6,473,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after acquiring an additional 108 shares in the last quarter. Fifth Third Bancorp lifted its position in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after acquiring an additional 97 shares in the last quarter. McIlrath & Eck LLC lifted its position in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Installed Building Products in the 4th quarter valued at $90,000. Finally, Covestor Ltd lifted its position in Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after acquiring an additional 267 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBP has been the topic of several research reports. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Danske cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target on the stock. in a research report on Tuesday, August 12th. DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. 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. Finally, Jefferies Financial Group boosted their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Two equities 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 company's stock. Based on data from MarketBeat.com, Installed Building Products has an average rating of "Hold" and an average target price of $217.36.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded down $1.42 during trading on Monday, hitting $261.97. 244,986 shares of the stock were exchanged, compared to its average volume of 664,592. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 29.14 and a beta of 1.76. The company has a fifty day moving average price of $219.59 and a 200-day moving average price of $185.69. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $278.74. 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 (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.50. The company 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%. Installed Building Products's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.84 EPS. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.37 dividend. 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 dividend payout ratio is 16.46%.

Insider Activity at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $266.00, for a total value of $390,754.00. Following the transaction, the director directly owned 6,873 shares of the company's stock, valued at $1,828,218. This represents a 17.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,655 shares of company stock worth $3,123,578 in the last quarter. Corporate insiders own 16.20% of the company's stock.

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.