HighTower Advisors LLC Invests $269,000 in Installed Building Products, Inc. $IBP

Key Points

• HighTower Advisors LLC invested approximately $269,000 in Installed Building Products, Inc. by acquiring 1,571 shares during the first quarter.
• Installed Building Products reported earnings of $2.95 per share, exceeding the consensus estimate of $2.45, alongside a 3.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.37 per share, which reflects an annualized dividend yield of 0.6% and a payout ratio of 16.46%.

HighTower Advisors LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,571 shares of the construction company's stock, valued at approximately $269,000.

A number of other hedge funds also recently modified their holdings of IBP. Stifel Financial Corp lifted its stake in shares of Installed Building Products by 4.2% during the 4th quarter. Stifel Financial Corp now owns 11,468 shares of the construction company's stock worth $2,010,000 after buying an additional 462 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Installed Building Products by 7.3% during the 4th quarter. Northern Trust Corp now owns 278,070 shares of the construction company's stock worth $48,732,000 after buying an additional 18,907 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Installed Building Products by 7.8% during the 4th quarter. Benjamin Edwards Inc. now owns 3,111 shares of the construction company's stock worth $546,000 after buying an additional 226 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Installed Building Products by 8.8% during the 4th quarter. Baird Financial Group Inc. now owns 53,245 shares of the construction company's stock worth $9,331,000 after buying an additional 4,296 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Installed Building Products by 9.0% during the 4th quarter. Captrust Financial Advisors now owns 6,418 shares of the construction company's stock worth $1,125,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Price Performance

IBP stock opened at $259.64 on Wednesday. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $278.74. The firm has a market cap of $7.10 billion, a P/E ratio of 28.88 and a beta of 1.76. The company's 50-day moving average price is $222.78 and its two-hundred day moving average price is $186.78.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. On average, analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share 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. Investors of record on Monday, September 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products's payout ratio is 16.46%.

Insider Activity at Installed Building Products

In related news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total transaction of $390,754.00. Following the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products 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 sale, the chief accounting officer directly owned 6,822 shares in the company, valued at $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,655 shares of company stock valued at $3,123,578. Company insiders own 16.20% of the company's stock.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research reports. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Benchmark lowered their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Danske lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target on the stock. in a research report on Tuesday, August 12th. Finally, DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and raised their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $217.36.

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.

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