Installed Building Products, Inc. $IBP Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Installed Building Products by 10.5%, bringing its total ownership to approximately 1.35% of the company, valued at $64 million.
• Installed Building Products reported earnings of $2.95 per share, exceeding analyst expectations of $2.45, and generated $760.30 million in revenue for the quarter.
• The company declared a quarterly dividend of $0.37, with an annual yield of 0.5%, marking a dividend payout ratio of 16.46%.

T. Rowe Price Investment Management Inc. grew its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,649 shares of the construction company's stock after buying an additional 35,568 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.35% of Installed Building Products worth $64,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Installed Building Products by 65.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,224 shares of the construction company's stock valued at $210,000 after purchasing an additional 484 shares during the last quarter. Giverny Capital Inc. boosted its position in shares of Installed Building Products by 0.7% during the first quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company's stock worth $87,114,000 after acquiring an additional 3,338 shares during the last quarter. Northern Trust Corp raised its stake in shares of Installed Building Products by 15.4% in the first quarter. Northern Trust Corp now owns 320,859 shares of the construction company's stock valued at $55,014,000 after acquiring an additional 42,789 shares during the period. CacheTech Inc. increased its holdings in Installed Building Products by 10.4% during the 1st quarter. CacheTech Inc. now owns 16,956 shares of the construction company's stock worth $2,907,000 after purchasing an additional 1,592 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Installed Building Products by 0.4% during the first quarter. Raymond James Financial Inc. now owns 136,259 shares of the construction company's stock valued at $23,363,000 after purchasing an additional 592 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of Installed Building Products 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 completion of the sale, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. The trade was a 6.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brad A. Wheeler sold 3,186 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is owned by insiders.

Installed Building Products Price Performance

NYSE IBP traded down $7.92 on Thursday, hitting $261.15. The company had a trading volume of 298,993 shares, compared to its average volume of 441,191. The company has a market capitalization of $7.14 billion, a PE ratio of 29.05 and a beta of 1.73. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $278.74. The company's fifty day moving average price is $215.79 and its 200-day moving average price is $184.50. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

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

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis 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 (DPR) is presently 16.46%.

Analyst Ratings Changes

Several brokerages have weighed in on IBP. Benchmark lowered their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a research note on Friday, August 8th. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group raised 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 report on Tuesday, August 12th. Two equities 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.