Fluent Financial LLC Acquires New Position in Installed Building Products, Inc. $IBP

Key Points

• Fluent Financial LLC has acquired a new position in Installed Building Products, purchasing 5,694 shares valued at approximately $1,027,000 during the second quarter.
• Multiple large investors have increased their stakes in Installed Building Products, with UMB Bank n.a. growing its holdings by 142.1% in the first quarter.
• Insider transactions included significant share sales, with Director Janet E. Jackson selling 1,469 shares and a total of 11,655 shares sold by insiders in the last ninety days.

Fluent Financial LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,694 shares of the construction company's stock, valued at approximately $1,027,000.

Other large investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after acquiring an additional 108 shares in the last quarter. SRH Advisors LLC grew its stake in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock worth $37,000 after purchasing an additional 85 shares in the last quarter. Fifth Third Bancorp increased its holdings in Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after buying an additional 97 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Installed Building Products by 36.7% in the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock valued at $95,000 after buying an additional 149 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Insider Buying and Selling

In related news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total value of $390,754.00. Following the transaction, the director directly owned 6,873 shares in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction 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 in the company, valued at $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,655 shares of company stock valued at $3,123,578 in the last ninety days. Company insiders own 16.20% of the company's stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of several research analyst reports. Evercore ISI set a $240.00 target price on Installed Building Products in a research report on Tuesday. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Royal Bank Of Canada restated an "underperform" rating and issued a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group lifted their price target 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. Finally, Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $220.45.

Installed Building Products Trading Up 3.3%

NYSE IBP opened at $242.98 on Thursday. The firm's fifty day moving average is $255.24 and its two-hundred day moving average is $201.93. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $280.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The firm has a market cap of $6.64 billion, a PE ratio of 27.03 and a beta of 1.83.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly 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 firm 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%.The business's revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $2.84 earnings per share. Analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, September 15th. Installed Building Products's dividend payout ratio is 16.46%.

About Installed Building Products

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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