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

A number of other hedge funds have also recently bought and sold shares of IBP. McIlrath & Eck LLC lifted its position 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 valued at $44,000 after buying an additional 61 shares during the last quarter. Xponance Inc. lifted its position in shares of Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after buying an additional 67 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Installed Building Products by 1.7% in the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock valued at $716,000 after buying an additional 68 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in 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 purchasing an additional 75 shares during the last quarter. Finally, State of Wyoming lifted its holdings in 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 purchasing an additional 77 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Todd R. Fry sold 500 shares of the business's 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 sale, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. The trade was a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the sale, the insider owned 37,999 shares in the company, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBP. Benchmark dropped their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Jefferies Financial Group lifted their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, DA Davidson cut Installed Building Products from a "buy" rating to a "hold" rating and lifted their price objective for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Two 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. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and an average price target of $217.36.

Installed Building Products Price Performance

Shares of IBP traded up $2.73 during midday trading on Tuesday, hitting $276.14. The company's stock had a trading volume of 212,536 shares, compared to its average volume of 439,599. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $278.74. The company's fifty day simple moving average is $211.39 and its two-hundred day simple moving average is $183.26. 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 $7.55 billion, a price-to-earnings ratio of 30.70 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. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.84 EPS. As a group, equities analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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 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 yield of 0.5%. Installed Building Products's payout ratio is currently 16.46%.

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.