Installed Building Products, Inc. $IBP Shares Bought by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC significantly increased its holdings in Installed Building Products, boosting its ownership by 1,433.5%, acquiring a total of 51,864 shares valued at approximately $9.35 million.
• The company reported $2.95 EPS for the second quarter, surpassing expectations, with a revenue of $760.30 million, marking a 3.1% increase from the previous year.
• Installed Building Products has recently announced a quarterly dividend of $0.37 per share, resulting in an annualized dividend yield of 0.6% with a payout ratio of 16.46%.

Mutual of America Capital Management LLC boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1,433.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,864 shares of the construction company's stock after purchasing an additional 48,482 shares during the period. Mutual of America Capital Management LLC owned about 0.19% of Installed Building Products worth $9,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. VELA Investment Management LLC lifted its position in Installed Building Products by 288.6% during the second quarter. VELA Investment Management LLC now owns 12,750 shares of the construction company's stock valued at $2,299,000 after purchasing an additional 9,469 shares during the period. WCM Investment Management LLC lifted its position in Installed Building Products by 24.5% during the second quarter. WCM Investment Management LLC now owns 114,076 shares of the construction company's stock valued at $20,369,000 after purchasing an additional 22,459 shares during the period. Allianz Asset Management GmbH lifted its position in Installed Building Products by 16.8% during the second quarter. Allianz Asset Management GmbH now owns 11,132 shares of the construction company's stock valued at $2,007,000 after purchasing an additional 1,600 shares during the period. New York State Teachers Retirement System raised its position in shares of Installed Building Products by 0.9% in the second quarter. New York State Teachers Retirement System now owns 11,818 shares of the construction company's stock worth $2,131,000 after acquiring an additional 100 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Installed Building Products in the second quarter worth about $184,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on IBP. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research 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. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. DA Davidson downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and upped their price objective for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group boosted their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $220.45.

Installed Building Products Stock Up 0.6%

IBP stock opened at $256.67 on Monday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 28.55 and a beta of 1.83. The firm has a 50-day simple moving average of $258.89 and a 200-day simple moving average of $206.04. 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 52 week low of $150.83 and a 52 week high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data 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. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter in the prior year, the company earned $2.84 EPS. Installed Building Products's revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued 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 was Monday, September 15th. Installed Building Products's payout ratio is currently 16.46%.

Insider Buying and Selling

In other 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 transaction, the director directly owned 6,873 shares in the company, valued at $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 at this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is currently owned by company insiders.

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.

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