Installed Building Products, Inc. $IBP Shares Purchased by CacheTech Inc.

Key Points

• CacheTech Inc. increased its shareholding in Installed Building Products, Inc. by 10.4% during the 1st quarter, owning a total of 16,956 shares valued at approximately $2.9 million.
• Other institutional investors have also significantly boosted their positions in Installed Building Products, with First Trust Advisors LP increasing its holdings by 69.8% and GAMMA Investing LLC by an astounding 35,416.8%.
• The company's last quarterly earnings report exceeded analysts' expectations, posting $2.95 earnings per share and a revenue of $760.3 million, marking a 3.1% increase compared to the previous year.

CacheTech Inc. grew its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,956 shares of the construction company's stock after buying an additional 1,592 shares during the period. CacheTech Inc. owned 0.06% of Installed Building Products worth $2,907,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IBP. UMB Bank n.a. raised its holdings in Installed Building Products by 142.1% during 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 raised its holdings in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after purchasing an additional 97 shares in the last quarter. McIlrath & Eck LLC raised its holdings in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Installed Building Products during the fourth quarter worth about $90,000. Finally, Covestor Ltd raised its holdings in Installed Building Products by 92.1% during the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after purchasing an additional 267 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 of the company's stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Danske cut 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. Jefferies Financial Group increased 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. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Finally, Zacks Research raised shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Two investment 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, the stock has a consensus rating of "Hold" and an average target price of $217.36.

Installed Building Products Price Performance

Shares of IBP traded down $0.4920 during mid-day trading on Thursday, reaching $262.7780. 229,377 shares of the company's stock were exchanged, compared to its average volume of 437,147. 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 company has a 50-day simple moving average of $205.23 and a two-hundred day simple moving average of $181.66. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $275.76. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 29.25 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share 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 analysts' expectations of $711.37 million. During the same period last year, the company posted $2.84 EPS. The company's revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) 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.