Fifth Third Bancorp Acquires 10,140 Shares of Installed Building Products, Inc. $IBP

Fifth Third Bancorp lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 5,602.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,321 shares of the construction company's stock after acquiring an additional 10,140 shares during the quarter. Fifth Third Bancorp's holdings in Installed Building Products were worth $2,737,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. MGO One Seven LLC grew its stake in Installed Building Products by 3.1% in the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company's stock valued at $294,000 after buying an additional 34 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of Installed Building Products by 2.6% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company's stock worth $362,000 after purchasing an additional 35 shares during the period. Abel Hall LLC increased its stake in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company's stock worth $342,000 after purchasing an additional 35 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Installed Building Products by 2.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company's stock worth $472,000 after purchasing an additional 35 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Installed Building Products by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company's stock valued at $860,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Insider Activity

In other Installed Building Products news, Director Lawrence A. Hilsheimer acquired 475 shares of the business's stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the transaction, the director owned 28,468 shares in the company, valued at $5,870,670.96. This trade represents a 1.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Thomas Miller purchased 2,400 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $207.82 per share, for a total transaction of $498,768.00. Following the transaction, the chief financial officer owned 33,219 shares in the company, valued at $6,903,572.58. This represents a 7.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 5,036 shares of company stock valued at $1,042,807. Company insiders own 13.80% of the company's stock.

Installed Building Products Stock Down 1.8%

IBP opened at $224.48 on Tuesday. Installed Building Products, Inc. has a fifty-two week low of $184.75 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. The firm's fifty day moving average price is $215.55 and its two-hundred day moving average price is $266.08. The company has a market capitalization of $6.05 billion, a P/E ratio of 23.93, a P/E/G ratio of 5.48 and a beta of 1.69.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.96 by ($0.17). The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. On average, analysts anticipate that Installed Building Products, Inc. will post 9.57 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products's dividend payout ratio is currently 16.63%.

Analyst Ratings Changes

IBP has been the subject of several research reports. Stephens reduced their price objective on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Weiss Ratings lowered shares of Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research note on Wednesday, May 13th. Evercore set a $226.00 price target on shares of Installed Building Products in a report on Friday, May 8th. Finally, Wells Fargo & Company reduced their target price on shares of Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and an average price target of $247.67.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.

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