CacheTech Inc. Has $2.91 Million Stock Holdings in Installed Building Products, Inc. $IBP

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. lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,956 shares of the construction company's stock after acquiring an additional 1,592 shares during the period. CacheTech Inc. owned about 0.06% of Installed Building Products worth $2,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. Vanguard Group Inc. lifted its position in shares of Installed Building Products by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company's stock worth $458,024,000 after buying an additional 34,512 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Installed Building Products by 28.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock worth $90,905,000 after purchasing an additional 117,810 shares during the period. First Trust Advisors LP lifted its holdings in shares of Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock worth $85,124,000 after purchasing an additional 199,657 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Installed Building Products by 15.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 429,458 shares of the construction company's stock valued at $73,635,000 after purchasing an additional 56,000 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in Installed Building Products by 87.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock worth $59,249,000 after buying an additional 158,173 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Price Performance

NYSE:IBP traded down $6.8730 during trading hours on Wednesday, reaching $262.9770. 347,200 shares of the company's stock were exchanged, compared to its average volume of 437,489. 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 market capitalization of $7.19 billion, a P/E ratio of 29.25 and a beta of 1.73. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $275.76. The business's 50-day simple moving average is $203.38 and its two-hundred day simple moving average is $181.10.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same period last year, the company posted $2.84 EPS. The company's revenue was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.37 dividend. 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 is 16.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Danske lowered 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. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a research note on Friday, August 8th. Benchmark decreased their target price on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Jefferies Financial Group boosted their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $217.36.

Insider Buying and Selling

In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products 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 transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. The trade was 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 the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the company's 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 transaction, the insider directly 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 disclosure for this sale can be found here. Company insiders own 16.20% of the company's stock.

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.