Baird Financial Group Inc. Decreases Stock Position 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. cut its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 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 period. Baird Financial Group Inc. owned approximately 0.18% of Installed Building Products worth $8,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in shares of Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp raised its holdings in Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after acquiring an additional 97 shares during the period. McIlrath & Eck LLC raised its holdings in Installed Building Products by 32.3% during 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 during the period. Mpwm Advisory Solutions LLC bought a new stake in Installed Building Products during the 4th quarter valued at $90,000. Finally, Covestor Ltd increased 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 worth $96,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Loop Capital lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a report on Friday, August 8th. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. DA Davidson downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and raised their target price for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Finally, Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price for the company. in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and an average price target of $217.36.

Insider Buying and Selling at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, August 11th. The shares were 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 trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 approximately $1,828,218. This trade represents a 17.61% 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

NYSE:IBP traded down $14.64 during trading hours on Tuesday, reaching $264.84. The company had a trading volume of 161,737 shares, compared to its average volume of 439,529. 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 52 week low of $150.83 and a 52 week high of $280.00. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 29.44 and a beta of 1.76. The firm's 50 day moving average price is $230.27 and its 200-day moving average price is $189.67.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $711.37 million. During the same quarter in the previous year, the firm posted $2.84 EPS. The firm's revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently declared 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 is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 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.