Allianz Asset Management GmbH Has $1.63 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Key Points

• Allianz Asset Management GmbH increased its stake in Installed Building Products by 64.3% during the first quarter, bringing its total holdings to 9,532 shares valued at approximately $1.63 million.
• Installed Building Products reported earnings of $2.08 per share, which fell short of the consensus estimate of $2.23 per share, while the company’s revenue was $684.80 million, slightly exceeding expectations.
• The average analyst rating for Installed Building Products is "Hold" with a price target range declining from $210 to between $185 and $200 depending on the firm.

Allianz Asset Management GmbH grew its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 64.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,532 shares of the construction company's stock after buying an additional 3,730 shares during the quarter. Allianz Asset Management GmbH's holdings in Installed Building Products were worth $1,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC raised its position 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 buying an additional 61 shares in the last quarter. Xponance Inc. grew its holdings in shares of Installed Building Products by 3.9% during the 1st quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after purchasing an additional 67 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Installed Building Products by 1.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock valued at $716,000 after purchasing an additional 68 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Installed Building Products by 7.1% during the 1st quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock valued at $194,000 after purchasing an additional 75 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Installed Building Products by 10.1% during the 4th quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after purchasing an additional 77 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IBP. Loop Capital decreased their price target on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Benchmark reduced their target price on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $212.45.

Installed Building Products Trading Up 2.1%

Shares of NYSE:IBP traded up $4.23 during trading on Friday, reaching $206.52. The stock had a trading volume of 343,009 shares, compared to its average volume of 412,656. The firm's fifty day moving average is $182.38 and its 200 day moving average is $177.06. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.31 and a current ratio of 2.89. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $259.59. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 23.55 and a beta of 1.74.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). The firm had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 earnings per share. As a group, equities analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 0.7%. Installed Building Products's dividend payout ratio is currently 16.88%.

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.