Citigroup Inc. Has $9.81 Million Holdings in Installed Building Products, Inc. $IBP

Key Points

• Citigroup Inc. increased its stake in Installed Building Products, acquiring an additional 6,428 shares, raising its ownership by 12.7% to a total of 57,188 shares worth approximately $9.8 million.
• Multiple institutional investors have also boosted their holdings in Installed Building Products, with prominent increases from Bank of Montreal and Renaissance Technologies during the 4th quarter.
• Installed Building Products experienced a strong quarterly earnings report, delivering an EPS of $2.95, surpassing forecasts of $2.45, alongside a revenue of $760.3 million which also beat estimates.

Citigroup Inc. grew its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,188 shares of the construction company's stock after purchasing an additional 6,428 shares during the quarter. Citigroup Inc. owned about 0.21% of Installed Building Products worth $9,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IBP. McIlrath & Eck LLC boosted its holdings in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after buying an additional 61 shares during the period. Xponance Inc. boosted its holdings in shares of Installed Building Products by 3.9% during the 1st quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock worth $309,000 after buying an additional 67 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Installed Building Products by 1.7% during the 1st 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 during the period. TD Private Client Wealth LLC boosted its holdings in shares of Installed Building Products by 7.1% during the 1st 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 during the period. Finally, State of Wyoming boosted its holdings in shares of Installed Building Products by 10.1% during the 4th quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares during the period. Institutional investors own 99.61% of the company's stock.

Installed Building Products Price Performance

Shares of NYSE:IBP traded down $1.4750 during midday trading on Thursday, reaching $261.7950. 55,349 shares of the company's stock were exchanged, compared to its average volume of 435,997. The company's 50 day simple moving average is $205.23 and its two-hundred day simple moving average is $181.66. The firm has a market capitalization of $7.15 billion, a PE ratio of 29.12 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 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 announced its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $2.84 EPS. Equities research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is 16.46%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Benchmark reduced their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Danske lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target on the stock. in a research report on Tuesday, August 12th. 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, Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $217.36.

Insider Transactions at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available through the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction dated 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 owned 37,999 shares of the company's stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their position. 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.