Ascent Group LLC Acquires 2,959 Shares of Installed Building Products, Inc. $IBP

Key Points

• Ascent Group LLC increased its stake in Installed Building Products, Inc. by 12.7% during Q1, now holding 26,316 shares valued at approximately $4.5 million.
• Installed Building Products reported Q2 earnings of $2.95 EPS, exceeding analyst expectations, with revenue of $760.3 million, a year-over-year increase of 3.1%.
• The company announced a quarterly dividend of $0.37, with an annualized yield of 0.5%, reflecting a payout ratio of 16.46%.

Ascent Group LLC lifted its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,316 shares of the construction company's stock after acquiring an additional 2,959 shares during the period. Ascent Group LLC owned 0.10% of Installed Building Products worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. United Services Automobile Association acquired a new stake in shares of Installed Building Products in the 1st quarter worth approximately $263,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock worth $2,423,000 after acquiring an additional 486 shares during the period. Eminence Capital LP acquired a new stake in shares of Installed Building Products in the 1st quarter worth approximately $109,114,000. Curi RMB Capital LLC lifted its stake in shares of Installed Building Products by 10.4% in the 1st quarter. Curi RMB Capital LLC now owns 23,879 shares of the construction company's stock worth $4,094,000 after acquiring an additional 2,252 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after acquiring an additional 149 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Brad A. Wheeler sold 3,186 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares in the company, valued at $2,404,933.44. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 37,999 shares in the company, valued at $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. Insiders have sold 11,655 shares of company stock worth $3,123,578 over the last three months. 16.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and upped their price target for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a 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, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Trading Down 1.5%

Shares of IBP stock traded down $4.14 during trading hours on Friday, reaching $268.07. 359,995 shares of the stock traded hands, compared to its average volume of 439,854. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $280.00. The business has a fifty day moving average price of $236.13 and a 200 day moving average price of $192.13. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $7.33 billion, a PE ratio of 29.82 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. During the same quarter in the previous year, the business earned $2.84 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

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

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.