Beacon Investment Advisory Services Inc. Grows Stock Position in Installed Building Products, Inc. $IBP

Key Points

• Beacon Investment Advisory Services Inc. has increased its stake in Installed Building Products, Inc. by 63.0% during the second quarter, owning about 0.06% of the company, valued at $2.88 million.
• Several analysts have downgraded the stock's rating to hold, with target prices ranging from $225.00 to $255.00, despite two analysts still rating it a buy.
• Installed Building Products reported stronger-than-expected quarterly earnings with an EPS of $2.95, exceeding estimates, and declared a quarterly dividend of $0.37 per share.

Beacon Investment Advisory Services Inc. increased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 63.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,974 shares of the construction company's stock after buying an additional 6,173 shares during the quarter. Beacon Investment Advisory Services Inc. owned about 0.06% of Installed Building Products worth $2,880,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after buying an additional 108 shares during the period. Fifth Third Bancorp raised 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 valued at $39,000 after buying an additional 97 shares during the period. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 36.7% during the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock valued at $95,000 after buying an additional 149 shares during the period. Covestor Ltd increased its holdings in Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after purchasing an additional 267 shares during the last quarter. Finally, CWM LLC increased its holdings in Installed Building Products by 178.7% in the 1st quarter. CWM LLC now owns 588 shares of the construction company's stock valued at $101,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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 report on Tuesday, August 12th. DA Davidson downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and lifted their target price for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a report on Friday, August 8th. 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, Jefferies Financial Group lifted their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of "Hold" and a consensus price target of $217.36.

Insider Activity

In other 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 transaction 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 approximately $10,096,714.29. The trade was a 14.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock valued at $3,123,578 in the last 90 days. Company insiders own 16.20% of the company's stock.

Installed Building Products Stock Performance

Shares of IBP stock opened at $254.95 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.85 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 stock has a market capitalization of $6.97 billion, a PE ratio of 28.36 and a beta of 1.76. The firm has a 50 day moving average of $246.25 and a two-hundred day moving average of $197.01.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the company posted $2.84 EPS. The firm's revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given 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 of this dividend is Monday, September 15th. Installed Building Products's payout ratio is 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.

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