Installed Building Products, Inc. $IBP Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Installed Building Products, raising its stake by 8.7% during the 1st quarter, owning a total of 16,137 shares valued at approximately $2.77 million.
• The company reported earnings of $2.95 per share for the last quarter, exceeding analysts' expectations of $2.45, with revenues also surpassing estimates at $760.3 million.
• Installed Building Products announced a quarterly dividend of $0.37 per share, with the ex-dividend date set for September 15th, reflecting a 0.6% dividend yield.

Voya Investment Management LLC grew its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,137 shares of the construction company's stock after buying an additional 1,291 shares during the period. Voya Investment Management LLC owned 0.06% of Installed Building Products worth $2,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBP. Strs Ohio purchased a new position in Installed Building Products in the 1st quarter worth about $309,000. Jane Street Group LLC raised its position in Installed Building Products by 270.0% in the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company's stock worth $2,948,000 after buying an additional 12,545 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Installed Building Products by 190.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company's stock worth $51,831,000 after buying an additional 198,391 shares during the last quarter. Ascent Group LLC raised its position in Installed Building Products by 12.7% in the 1st quarter. Ascent Group LLC now owns 26,316 shares of the construction company's stock worth $4,512,000 after buying an additional 2,959 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Installed Building Products in the 1st quarter worth about $263,000. Institutional investors own 99.61% of the company's stock.

Insiders Place Their Bets

In other news, COO Brad A. Wheeler sold 3,186 shares of the company'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 transaction of $877,073.94. Following the completion of the transaction, the chief operating officer directly owned 8,736 shares of the company's stock, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company's stock, 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 90 days, insiders sold 11,655 shares of company stock valued at $3,123,578. Corporate insiders own 16.20% of the company's stock.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded down $1.04 on Tuesday, reaching $255.62. 81,119 shares of the stock were exchanged, compared to its average volume of 440,401. 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 twelve month low of $150.83 and a twelve month high of $280.00. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 28.42 and a beta of 1.76. The business has a 50 day moving average price of $243.64 and a two-hundred day moving average price of $196.19.

Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS 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 firm had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. During the same quarter in the previous year, the company posted $2.84 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. Analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Zelman & Associates raised 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 reaffirmed an "underperform" rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and upped their price target for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Loop Capital lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a research report on Friday, August 8th. 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. According to MarketBeat, the company has an average rating of "Hold" and an average 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.