Aristeia Capital L.L.C. Reduces Position in Installed Building Products, Inc. $IBP

Key Points

• Aristeia Capital L.L.C. has reduced its stake in Installed Building Products, Inc. by 56.1%, now holding only 1,545 shares valued at $265,000.
• Insider selling activity has been notable, with Director Janet E. Jackson and another insider selling a combined 11,655 shares valued at over $3 million in recent transactions.
• The company announced a quarterly dividend of $0.37 per share, to be paid on September 30th, reflecting an annualized yield of 0.5%.

Aristeia Capital L.L.C. decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 56.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,545 shares of the construction company's stock after selling 1,976 shares during the period. Aristeia Capital L.L.C.'s holdings in Installed Building Products were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IBP. Captrust Financial Advisors increased its stake in shares of Installed Building Products by 9.0% during the fourth quarter. Captrust Financial Advisors now owns 6,418 shares of the construction company's stock valued at $1,125,000 after purchasing an additional 532 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Installed Building Products by 9.0% during the fourth quarter. Cetera Investment Advisers now owns 5,341 shares of the construction company's stock valued at $936,000 after purchasing an additional 441 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Installed Building Products by 8.6% during the fourth quarter. Deutsche Bank AG now owns 87,360 shares of the construction company's stock valued at $15,310,000 after purchasing an additional 6,925 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of Installed Building Products during the fourth quarter valued at approximately $263,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Installed Building Products during the fourth quarter valued at approximately $823,000. Institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBP. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada reiterated an "underperform" rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a report on Friday, August 8th. DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and increased their price target for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Finally, Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Two investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $217.36.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products 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 in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total transaction of $128,635.00. Following the transaction, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is owned by insiders.

Installed Building Products Stock Performance

IBP stock traded down $4.14 on Friday, hitting $268.07. The company had a trading volume of 359,995 shares, compared to its average volume of 433,368. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. 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 stock's 50-day simple moving average is $236.13 and its 200 day simple moving average is $192.42. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 29.82 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its 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. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the company posted $2.84 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.48 annualized dividend and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) 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.