Connor Clark & Lunn Investment Management Ltd. Acquires 4,369 Shares of Installed Building Products, Inc. (NYSE:IBP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Installed Building Products by 104.2% in Q1, acquiring an additional 4,369 shares for a total of 8,563 shares worth approximately $1.47 million.
• Installed Building Products reported an earnings per share (EPS) of $2.95 for the last quarter, exceeding expectations, along with a revenue of $760.30 million.
• The company has announced a quarterly dividend of $0.37 per share, with an annualized yield of 0.6%, set to be paid on September 30th.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 104.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,563 shares of the construction company's stock after purchasing an additional 4,369 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Installed Building Products were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of Installed Building Products by 142.1% in 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 during the last quarter. Fifth Third Bancorp grew its stake in shares of Installed Building Products by 74.6% in 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 during the last quarter. McIlrath & Eck LLC grew its stake in shares of Installed Building Products by 32.3% in 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 during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Installed Building Products in the fourth quarter worth about $90,000. Finally, CWM LLC grew its stake in shares of Installed Building Products by 178.7% in the first quarter. CWM LLC now owns 588 shares of the construction company's stock worth $101,000 after purchasing an additional 377 shares during the last quarter. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the topic of several recent analyst reports. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Loop Capital cut Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Jefferies Financial Group restated a "hold" rating and issued a $225.00 target price (up previously from $175.00) on shares of Installed Building Products in a research note on Tuesday. Danske cut 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. Finally, Benchmark lowered their target price on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $217.36.

Installed Building Products Price Performance

IBP stock opened at $267.93 on Friday. The firm has a 50 day moving average price of $199.54 and a 200-day moving average price of $180.31. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $275.76. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 29.80 and a beta of 1.73. 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 released its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (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 firm had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same period last year, the business earned $2.84 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast 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. Investors of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's payout ratio is presently 16.46%.

Insider Buying and Selling

In related news, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.20% of the stock is owned by insiders.

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.

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