Installed Building Products, Inc. $IBP Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in Installed Building Products by 8.3%, owning 23,336 shares valued at approximately $4 million after selling 2,116 shares in Q1.
• Installed Building Products saw a quarterly EPS of $2.95, exceeding the consensus estimate of $2.45, while its revenue climbed 3.1% year-over-year to $760.30 million.
• The company announced a quarterly dividend of $0.37 per share, with an annual yield of 0.6%, to be paid on September 30th.

Intech Investment Management LLC reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,336 shares of the construction company's stock after selling 2,116 shares during the period. Intech Investment Management LLC owned about 0.08% of Installed Building Products worth $4,001,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of IBP. Cetera Investment Advisers lifted its position in Installed Building Products by 9.0% during the 4th quarter. Cetera Investment Advisers now owns 5,341 shares of the construction company's stock valued at $936,000 after acquiring an additional 441 shares during the period. Deutsche Bank AG grew its stake in shares of Installed Building Products by 8.6% in the fourth quarter. Deutsche Bank AG now owns 87,360 shares of the construction company's stock worth $15,310,000 after acquiring an additional 6,925 shares during the period. Gotham Asset Management LLC bought a new stake in Installed Building Products during the fourth quarter valued at approximately $263,000. Jefferies Financial Group Inc. bought a new stake in Installed Building Products during the fourth quarter valued at approximately $823,000. Finally, Janus Henderson Group PLC grew its position in Installed Building Products by 5.4% during the fourth quarter. Janus Henderson Group PLC now owns 15,351 shares of the construction company's stock valued at $2,691,000 after buying an additional 780 shares during the period. Institutional investors own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 approximately $2,404,933.44. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is owned by corporate insiders.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded up $5.66 during midday trading on Thursday, hitting $264.34. The company had a trading volume of 83,076 shares, compared to its average volume of 440,800. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 29.34 and a beta of 1.76. 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 company has a fifty day simple moving average of $240.10 and a 200 day simple moving average of $193.99. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. The firm had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. Installed Building Products's revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $2.84 EPS. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is currently 16.46%.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of recent analyst reports. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Danske lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a research report on Tuesday, August 12th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and upped their price target for the stock from $225.00 to $252.00 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. Finally, Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. 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 stock. According to data from MarketBeat, Installed Building Products 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.