Installed Building Products, Inc. $IBP Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments cut its Installed Building Products stake by 81.4% in the second quarter, selling 21,213 shares and retaining 4,861 shares worth approximately $1.12 million. Institutional investors collectively own 99.61% of the company.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS versus the $2.55 consensus and revenue of $777.8 million, up 2.3% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 0.8% yield.
• Analysts maintain a consensus “Hold” rating with a $247.55 price target, while IBP shares recently traded near $197.51—close to their 12-month low of $193.11.

Tidal Investments LLC reduced its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 81.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,861 shares of the construction company's stock after selling 21,213 shares during the period. Tidal Investments LLC's holdings in Installed Building Products were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. WINTON GROUP Ltd purchased a new stake in Installed Building Products in the second quarter valued at $1,180,000. Engineers Gate Manager LP acquired a new position in shares of Installed Building Products in the 2nd quarter valued at about $695,000. Summit Financial Strategies Inc. lifted its holdings in shares of Installed Building Products by 79.2% in the 2nd quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company's stock valued at $1,193,000 after buying an additional 2,293 shares during the period. Beacon Investment Advisory Services Inc. boosted its stake in shares of Installed Building Products by 27.0% in the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company's stock worth $3,494,000 after buying an additional 3,229 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Installed Building Products in the second quarter worth about $223,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Performance

Shares of IBP stock opened at $197.51 on Friday. The company has a market capitalization of $5.25 billion, a P/E ratio of 21.26, a P/E/G ratio of 3.68 and a beta of 1.71. The business's 50 day moving average is $230.74 and its two-hundred day moving average is $243.24. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same period last year, the company earned $2.95 earnings per share. Installed Building Products's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Installed Building Products, Inc. will post 9.89 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. Installed Building Products's payout ratio is currently 16.79%.

Analyst Ratings Changes

Several brokerages recently weighed in on IBP. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wells Fargo & Company lowered their price objective on Installed Building Products from $245.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. Evercore set a $246.00 price objective on shares of Installed Building Products in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $247.55.

Insider Buying and Selling at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly owned 5,142 shares of the company's stock, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.80% of the stock is currently owned by company insiders.

Installed Building Products Profile

Installed Building Products, Inc NYSE: IBP is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.

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