Hsbc Holdings PLC Reduces Holdings in Installed Building Products, Inc. $IBP

Key Points

• Hsbc Holdings PLC reduced its stake in Installed Building Products, Inc. by 81.1%, holding 1,551 shares valued at $266,000 after selling 6,661 shares in the first quarter.
• Installed Building Products reported $2.95 EPS for the last quarter, exceeding analysts’ expectations, with revenue reaching $760.30 million, a 3.1% increase year-over-year.
• The company declared a quarterly dividend of $0.37 per share, equating to an annualized yield of 0.5%, set to be paid on September 30th to shareholders on record by September 15th.

Hsbc Holdings PLC lessened its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 81.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,551 shares of the construction company's stock after selling 6,661 shares during the period. Hsbc Holdings PLC's holdings in Installed Building Products were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake 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 purchasing an additional 108 shares during the last quarter. Fifth Third Bancorp boosted 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 worth $39,000 after acquiring an additional 97 shares in the last quarter. McIlrath & Eck LLC lifted 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 worth $44,000 after purchasing an additional 61 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Installed Building Products during the fourth quarter worth about $90,000. Finally, Covestor Ltd lifted its holdings in shares of Installed Building Products by 92.1% during the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Price Performance

Shares of IBP stock traded down $0.52 during trading hours on Wednesday, hitting $265.62. 337,575 shares of the company's stock were exchanged, compared to its average volume of 461,609. 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 firm has a market cap of $7.26 billion, a P/E ratio of 29.55 and a beta of 1.76. The firm has a 50 day moving average of $233.10 and a two-hundred day moving average of $190.72. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.84 EPS. Sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be 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 of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,469 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the completion of the sale, the director directly owned 6,873 shares in the company, valued at approximately $1,828,218. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares of the company's stock, valued at $2,404,933.44. The trade was a 26.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,655 shares of company stock valued at $3,123,578 over the last ninety days. Company insiders own 16.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IBP shares. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "underperform" rating and set 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 boosted their price target on Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Finally, Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $217.36.

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.