Public Sector Pension Investment Board Grows Position in Installed Building Products, Inc. (NYSE:IBP)

Key Points

• The Public Sector Pension Investment Board increased its stake in Installed Building Products, Inc. by 27.2% in the first quarter, owning approximately 73,661 shares worth $12.63 million.
• Installed Building Products reported a quarterly earnings per share (EPS) of $2.95, exceeding analysts' expectations of $2.45, and had a revenue of $760.30 million for the quarter.
• The company declared a quarterly dividend of $0.37 per share with a payout ratio of 16.46%, scheduled for payment on September 30th to stockholders of record on September 15th.

Public Sector Pension Investment Board raised its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,661 shares of the construction company's stock after purchasing an additional 15,765 shares during the period. Public Sector Pension Investment Board owned 0.27% of Installed Building Products worth $12,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 108 shares in the last quarter. Fifth Third Bancorp increased its position in shares of 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 acquiring an additional 97 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of 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 acquiring an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Installed Building Products during the fourth quarter worth about $90,000. Finally, Covestor Ltd increased its position 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 acquiring an additional 267 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBP has been the topic of several analyst reports. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $225.00 target price (up from $175.00) on shares of Installed Building Products in a research note on Tuesday. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note 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 on the stock. in a report on Tuesday. Finally, DA Davidson lowered shares of Installed Building Products from a "strong-buy" rating to a "hold" rating and lifted their target price for the company from $225.00 to $252.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $217.36.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $1.16 during trading on Friday, hitting $267.93. The company had a trading volume of 489,715 shares, compared to its average volume of 438,596. The stock has a 50 day simple moving average of $197.50 and a 200 day simple moving average of $179.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $275.76. The firm has a market capitalization of $7.32 billion, a P/E ratio of 29.80 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same period in the prior year, the business posted $2.84 earnings per share. The company's revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed 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 is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's payout ratio is 16.46%.

Insiders Place Their Bets

In other news, insider William Jeffrey Hire sold 6,500 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction dated Monday, August 11th. The stock was 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 owned 6,822 shares in the company, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.20% of the company's stock.

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.