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 purchased 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 disclosure with the Securities and Exchange Commission. The fund purchased 1,571 shares of the construction company's stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Installed Building Products by 35,416.8% in the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock worth $289,870,000 after buying an additional 168,584 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Installed Building Products by 28.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock valued at $90,905,000 after acquiring an additional 117,810 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Installed Building Products by 56.7% during the 1st quarter. Boston Trust Walden Corp now owns 258,256 shares of the construction company's stock worth $44,281,000 after acquiring an additional 93,411 shares in the last quarter. Royce & Associates LP increased its position in shares of Installed Building Products by 48.3% during the first quarter. Royce & Associates LP now owns 240,409 shares of the construction company's stock worth $41,221,000 after acquiring an additional 78,246 shares during the period. Finally, Voloridge Investment Management LLC increased its position in shares of Installed Building Products by 471.8% during the fourth quarter. Voloridge Investment Management LLC now owns 80,177 shares of the construction company's stock worth $14,051,000 after acquiring an additional 66,156 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the sale, the chief accounting officer owned 6,822 shares of the company's stock, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock worth $3,123,578 over the last quarter. Company insiders own 16.20% of the company's stock.

Installed Building Products Stock Up 1.4%

Shares of NYSE:IBP traded up $3.78 during trading on Friday, hitting $273.68. The company's stock had a trading volume of 254,782 shares, compared to its average volume of 480,474. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $279.95. The stock's 50-day moving average price is $228.30 and its two-hundred day moving average price is $188.87. The company has a market capitalization of $7.48 billion, a PE ratio of 30.44 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company's revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.84 earnings per share. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Installed Building Products's payout ratio is presently 16.46%.

Analysts Set New Price Targets

Several equities analysts recently commented on IBP shares. Loop Capital lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a report on Friday, August 8th. Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price objective for the company. in a research report on Tuesday, August 12th. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada reiterated an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Finally, DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and raised their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $217.36.

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.