Trexquant Investment LP Trims Holdings in Installed Building Products, Inc. $IBP

Key Points

• Trexquant Investment LP significantly reduced its stake in Installed Building Products, Inc. by 77.1%, selling 12,067 shares and leaving them with 3,579 shares valued at $614,000.
• The company reported quarterly earnings of $2.95 per share, exceeding the consensus estimate of $2.45, with revenues of $760.30 million, marking a 3.1% increase year-over-year.
• Installed Building Products declared a quarterly dividend of $0.37 per share, representing an annualized yield of 0.5%, with the ex-dividend date set for September 15th.

Trexquant Investment LP decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 77.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,579 shares of the construction company's stock after selling 12,067 shares during the quarter. Trexquant Investment LP's holdings in Installed Building Products were worth $614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its position in shares of Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after buying an additional 97 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Installed Building Products in the 4th quarter valued at about $90,000. Finally, Covestor Ltd raised its holdings in shares of Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

IBP has been the subject of several recent research reports. 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 report on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a research report on Friday, August 8th. Jefferies Financial Group raised their price objective on Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Finally, DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and raised their price objective for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $217.36.

Insider Activity at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brad A. Wheeler sold 3,186 shares of the business'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 sale, the chief operating officer directly owned 8,736 shares in the company, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock worth $3,123,578 in the last quarter. 16.20% of the stock is currently owned by company insiders.

Installed Building Products Stock Down 1.5%

Installed Building Products stock traded down $4.14 during midday trading on Friday, reaching $268.07. The company's stock had a trading volume of 359,995 shares, compared to its average volume of 439,854. The stock's 50-day simple moving average is $236.13 and its 200-day simple moving average is $192.13. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00. The stock has a market capitalization of $7.33 billion, a P/E ratio of 29.82 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating 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 company had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same period last year, the business posted $2.84 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced 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. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's payout ratio is currently 16.46%.

Installed Building Products 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.