Guinness Asset Management LTD Has $10.01 Million Stock Holdings in Installed Building Products, Inc. $IBP

Key Points

• Guinness Asset Management LTD reduced its stake in Installed Building Products by 27.5% in Q1, selling 22,120 shares, leaving it with about 0.21% ownership valued at $10,012,000.
• Other hedge funds have shifted their positions, with Eminence Capital LP and Timucuan Asset Management making significant new investments in Installed Building Products.
• Installed Building Products reported a Q2 EPS of $2.95, exceeding expectations and indicating a 3.1% year-over-year revenue growth, along with the announcement of a dividend of $0.37 per share.

Guinness Asset Management LTD lowered its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 27.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,404 shares of the construction company's stock after selling 22,120 shares during the quarter. Guinness Asset Management LTD owned about 0.21% of Installed Building Products worth $10,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. McIlrath & Eck LLC raised its holdings in shares of Installed Building Products by 32.3% during 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. increased its holdings in shares of Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after purchasing an additional 67 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock valued at $716,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Installed Building Products by 7.1% in the first 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 period. Finally, State of Wyoming grew its position in Installed Building Products by 10.1% in the 4th quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after buying an additional 77 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Insider Buying and Selling

In other news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of the stock in a transaction that occurred 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 sale, the director owned 6,873 shares of the company's stock, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,655 shares of company stock worth $3,123,578 over the last ninety days. Company insiders own 16.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on IBP shares. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. 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, August 12th. Jefferies Financial Group lifted their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $217.36.

Installed Building Products Trading Down 2.7%

Shares of Installed Building Products stock traded down $7.24 during trading on Monday, hitting $260.72. The stock had a trading volume of 479,669 shares, compared to its average volume of 440,735. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00. The stock has a 50 day simple moving average of $237.52 and a 200 day simple moving average of $193.05. 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 company has a market capitalization of $7.13 billion, a PE ratio of 29.00 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business posted $2.84 EPS. The company's revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products's payout ratio is currently 16.46%.

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.