Amundi Decreases Position in Installed Building Products, Inc. $IBP

Key Points

• Amundi has reduced its holdings in Installed Building Products, Inc. by 22.6%, owning 9,310 shares valued at $1,525,000 after selling 2,714 shares during the first quarter.
• Installed Building Products recently reported $2.95 EPS for the quarter, surpassing analyst expectations of $2.45, with quarterly revenue of $760.3 million, reflecting a 3.1% year-over-year increase.
• The company will pay a quarterly dividend of $0.37 on September 30th, representing an annualized yield of 0.6% and a payout ratio of 16.46%.

Amundi lessened its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the construction company's stock after selling 2,714 shares during the period. Amundi's holdings in Installed Building Products were worth $1,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after purchasing an additional 108 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after purchasing an additional 97 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after purchasing an additional 61 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Installed Building Products in the fourth quarter valued at approximately $90,000. Finally, Covestor Ltd boosted its holdings in shares of Installed Building Products by 92.1% in the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBP. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group upped their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a research report on Friday, August 8th. Finally, DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and upped their target price for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $217.36.

Insider Activity

In other news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,655 shares of company stock valued at $3,123,578. Insiders own 16.20% of the company's stock.

Installed Building Products Stock Performance

IBP traded up $5.42 during midday trading on Thursday, hitting $264.10. 265,287 shares of the company were exchanged, compared to its average volume of 454,476. The company's 50 day simple moving average is $241.33 and its 200 day simple moving average is $194.69. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 29.38 and a beta of 1.76. 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 1-year low of $150.83 and a 1-year high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results 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. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. During the same period last year, the firm earned $2.84 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Installed Building Products 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.