Baird Financial Group Inc. Lowers Stock Holdings in Installed Building Products, Inc. $IBP

Key Points

• Baird Financial Group Inc. has reduced its stake in Installed Building Products, Inc. by 7.9%, now holding 49,045 shares worth approximately $8.41 million.
• Insider selling activity includes William Jeffrey Hire selling 6,500 shares for over $1.72 million, and COO Brad A. Wheeler selling 3,186 shares valued at around $877,074.
• Installed Building Products announced a quarterly dividend of $0.37, with an upcoming ex-dividend date of September 15th, representing an annual yield of 0.6%.

Baird Financial Group Inc. trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,045 shares of the construction company's stock after selling 4,200 shares during the quarter. Baird Financial Group Inc. owned approximately 0.18% of Installed Building Products worth $8,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC lifted 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 worth $44,000 after buying an additional 61 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock worth $309,000 after buying an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Installed Building Products by 1.7% in the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after buying an additional 68 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Installed Building Products by 7.1% in the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock worth $194,000 after buying an additional 75 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a research note on Friday, August 8th. Benchmark lowered their target price on shares of 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. Zacks Research raised shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. 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 note on Thursday, August 7th. Finally, Jefferies Financial Group raised their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $217.36.

Insider Activity at Installed Building Products

In related news, insider William Jeffrey Hire sold 6,500 shares of Installed Building Products 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 sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brad A. Wheeler sold 3,186 shares of the business's stock in a transaction 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 approximately $2,404,933.44. This trade represents a 26.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by insiders.

Installed Building Products Trading Up 1.8%

IBP stock opened at $263.89 on Thursday. The company has a market capitalization of $7.21 billion, a PE ratio of 29.35 and a beta of 1.76. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $278.74. The company's 50 day moving average price is $224.54 and its two-hundred day moving average price is $187.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, August 7th. The construction company reported $2.95 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 the consensus estimate of $711.37 million. During the same period in the previous year, the firm earned $2.84 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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 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 payout ratio is 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.

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