Northern Trust Corp Raises Stake in Installed Building Products, Inc. $IBP

Key Points

• Northern Trust Corp increased its holdings in Installed Building Products, Inc. by 15.4% during the first quarter, owning approximately 1.16% of the company valued at $55 million.
• Installed Building Products, Inc. reported an earnings per share (EPS) of $2.95 for the last quarter, surpassing analysts' expectations of $2.45, with revenues up 3.1% year-over-year.
• The company also announced a quarterly dividend of $0.37, which translates to an annualized dividend yield of 0.5%, payable to stockholders of record on September 15th.

Northern Trust Corp boosted its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 320,859 shares of the construction company's stock after buying an additional 42,789 shares during the period. Northern Trust Corp owned approximately 1.16% of Installed Building Products worth $55,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Installed Building Products by 142.1% during the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after purchasing an additional 108 shares during the period. Fifth Third Bancorp increased its stake in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after purchasing an additional 97 shares during the period. McIlrath & Eck LLC increased its stake in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Installed Building Products during the fourth quarter worth approximately $90,000. Finally, Covestor Ltd increased its stake in shares of Installed Building Products by 92.1% during the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after buying an additional 267 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP traded down $1.42 on Friday, hitting $261.97. 244,986 shares of the company's stock were exchanged, compared to its average volume of 669,493. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $278.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The firm's 50-day moving average price is $219.59 and its two-hundred day moving average price is $185.58. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 29.14 and a beta of 1.73.

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. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the business earned $2.84 earnings per share. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

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

Insider Transactions at Installed Building Products

In other news, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products stock in a transaction 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 completion of the transaction, the chief operating officer owned 8,736 shares of the company's stock, valued at $2,404,933.44. The trade was a 26.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. The trade was a 6.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,655 shares of company stock worth $3,123,578. Corporate insiders own 16.20% of the company's stock.

Analyst Upgrades and Downgrades

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

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.