Installed Building Products, Inc. $IBP Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Installed Building Products by 23.3%, selling 33,421 shares and owning 110,158 shares valued at approximately $18.9 million as of its latest SEC filing.
• Installed Building Products reported earnings per share (EPS) of $2.95 for the last quarter, exceeding analysts' expectations of $2.45, with revenues of $760.30 million—a 3.1% increase year-over-year.
• The company announced a quarterly dividend of $0.37, to be paid on September 30th, yielding an annualized total of $1.48, representing a dividend payout ratio of 16.46%.

Wellington Management Group LLP decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 23.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,158 shares of the construction company's stock after selling 33,421 shares during the period. Wellington Management Group LLP owned about 0.40% of Installed Building Products worth $18,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Installed Building Products Stock Up 0.2%

Shares of IBP opened at $273.61 on Tuesday. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $278.74. The company has a market capitalization of $7.48 billion, a PE ratio of 30.43 and a beta of 1.73. The stock has a fifty day simple moving average of $211.39 and a two-hundred day simple moving average of $183.26. 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 (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (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 business had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. During the same period last year, the company earned $2.84 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts forecast 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 paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.5%. Installed Building Products's dividend payout ratio (DPR) is 16.46%.

Analysts Set New Price Targets

IBP has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an "underperform" rating and set a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Jefferies Financial Group increased their target price 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 upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research note 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 issued a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and an average price target of $217.36.

Insiders Place Their Bets

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the sale, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. This trade represents a 14.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.20% of the stock is owned by company insiders.

Installed Building Products Company 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.

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