Bahl & Gaynor Inc. Invests $785,000 in Installed Building Products, Inc. $IBP

Key Points

• Bahl & Gaynor Inc. has invested approximately $785,000 in Installed Building Products, Inc., acquiring 4,578 shares during the first quarter.
• Installed Building Products recently announced a quarterly dividend of $0.37 per share, representing a 0.5% annual yield.
• The company reported earnings of $2.95 per share for the last quarter, surpassing the consensus estimate by $0.50, with a revenue of $760.30 million.

Bahl & Gaynor Inc. bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,578 shares of the construction company's stock, valued at approximately $785,000.

Several other large investors have also added to or reduced their stakes in IBP. UMB Bank n.a. increased its holdings in Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after buying an additional 97 shares during the period. McIlrath & Eck LLC increased its stake in shares of 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 acquired a new position in shares of Installed Building Products during the 4th quarter valued at $90,000. Finally, Covestor Ltd lifted its position in shares of Installed Building Products by 92.1% during 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 during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Analysts Set New Price Targets

IBP has been the subject of a number of research reports. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and increased their price objective for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Benchmark dropped their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Trading Up 3.5%

NYSE:IBP opened at $273.3160 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $278.74. The company has a market cap of $7.47 billion, a PE ratio of 30.40 and a beta of 1.73. The firm has a 50-day moving average of $209.26 and a 200-day moving average of $182.62.

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, beating the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.84 EPS. As a group, equities research analysts expect that Installed Building Products, Inc. will post 10.66 EPS 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. Stockholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.46%.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the company's 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 completion of the sale, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the sale, the insider directly owned 37,999 shares of the company's stock, 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. 16.20% of the stock is owned by insiders.

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.

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