Erste Asset Management GmbH Trims Stake in Installed Building Products, Inc. $IBP

Key Points

• Erste Asset Management GmbH reduced its holdings in Installed Building Products, Inc. by 41.4%, now owning 49,367 shares valued at $8.42 million.
• The company's latest earnings report revealed an EPS of $2.95, exceeding analysts' expectations of $2.45, with revenues of $760.30 million for the quarter.
• Installed Building Products announced a $0.37 quarterly dividend, representing an annualized yield of 0.6% and a payout ratio of 16.46%.

Erste Asset Management GmbH decreased its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 41.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,367 shares of the construction company's stock after selling 34,827 shares during the period. Erste Asset Management GmbH owned approximately 0.18% of Installed Building Products worth $8,424,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IBP. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Installed Building Products by 65.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,224 shares of the construction company's stock worth $210,000 after acquiring an additional 484 shares in the last quarter. Giverny Capital Inc. boosted its stake in Installed Building Products by 0.7% during the first quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company's stock worth $87,114,000 after acquiring an additional 3,338 shares in the last quarter. Northern Trust Corp boosted its stake in Installed Building Products by 15.4% during the first quarter. Northern Trust Corp now owns 320,859 shares of the construction company's stock worth $55,014,000 after acquiring an additional 42,789 shares in the last quarter. CacheTech Inc. boosted its stake in Installed Building Products by 10.4% during the first quarter. CacheTech Inc. now owns 16,956 shares of the construction company's stock worth $2,907,000 after acquiring an additional 1,592 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Installed Building Products by 0.4% during the first quarter. Raymond James Financial Inc. now owns 136,259 shares of the construction company's stock worth $23,363,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Up 3.5%

Installed Building Products stock traded up $9.1360 during trading hours on Friday, hitting $273.3160. The stock had a trading volume of 699,705 shares, compared to its average volume of 631,743. 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 stock has a market capitalization of $7.47 billion, a P/E ratio of 30.40 and a beta of 1.73. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $278.74. The stock's 50-day moving average price is $209.26 and its 200-day moving average price is $182.68.

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, 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 analysts' expectations of $711.37 million. During the same period in the previous year, the company earned $2.84 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's payout ratio is presently 16.46%.

Insider Activity at Installed Building Products

In other 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 transaction of $1,727,115.00. Following the completion of the transaction, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the transaction, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $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.

Analysts Set New Price Targets

Several equities research analysts recently commented on IBP shares. Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Finally, Loop Capital lowered 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. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $217.36.

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.