Installed Building Products, Inc. $IBP Shares Sold by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management cut its Installed Building Products stake by 77.1% in the third quarter, leaving the fund with 1,837 shares worth approximately $352,000. Institutional investors collectively own 99.61% of IBP.
• IBP reported quarterly revenue of $777.8 million and earnings of $2.91 per share, surpassing analyst estimates of $743.3 million and $2.55, respectively. Revenue increased 2.3% year over year.
• The company paid a quarterly dividend of $0.39 per share, equivalent to an annualized $1.56 dividend and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $240.17.

Ausbil Investment Management Ltd lowered its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 77.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,837 shares of the construction company's stock after selling 6,189 shares during the period. Ausbil Investment Management Ltd's holdings in Installed Building Products were worth $352,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Argent Capital Management LLC raised its stake in Installed Building Products by 85.0% during the third quarter. Argent Capital Management LLC now owns 1,833 shares of the construction company's stock valued at $352,000 after buying an additional 842 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Installed Building Products by 11.7% in the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company's stock worth $308,000 after acquiring an additional 140 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $1,180,000. Engineers Gate Manager LP bought a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $695,000. Finally, Summit Financial Strategies Inc. raised its position in shares of Installed Building Products by 79.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company's stock valued at $1,193,000 after acquiring an additional 2,293 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Insider Activity at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director owned 5,142 shares of the company's stock, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.80% of the company's stock.

Installed Building Products Price Performance

Shares of IBP opened at $184.49 on Thursday. Installed Building Products, Inc. has a 12 month low of $179.66 and a 12 month high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a fifty day moving average price of $222.56 and a 200 day moving average price of $233.68. The company has a market cap of $4.90 billion, a P/E ratio of 19.86, a PEG ratio of 3.59 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Installed Building Products, Inc. will post 9.89 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.39 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products's dividend payout ratio is 16.79%.

Analyst Ratings Changes

IBP has been the topic of several research analyst reports. Zacks Research upgraded Installed Building Products from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. DA Davidson increased their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Stifel Nicolaus assumed coverage on shares of Installed Building Products in a research report on Monday, September 14th. They issued a "buy" rating and a $240.00 price target on the stock. Melius Research began coverage on shares of Installed Building Products in a report on Tuesday. They issued a "hold" rating and a $217.00 price target for the company. Finally, Royal Bank Of Canada lowered their price objective on shares of Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $240.17.

Installed Building Products Profile

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.