Charles Schwab Investment Management Inc. Increases Stake in Installed Building Products, Inc. $IBP

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Installed Building Products, Inc. by 2.0% during Q1, holding 287,194 shares valued at approximately $49.2 million.
• Installed Building Products has been seeing significant changes in institutional ownership, with various investors like UMB Bank and Fifth Third Bancorp increasing their positions by over 70%.
• The company reported an earnings per share of $2.95 for the last quarter, exceeding estimates and indicating a 3.1% year-over-year revenue growth.

Charles Schwab Investment Management Inc. increased its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 287,194 shares of the construction company's stock after buying an additional 5,552 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.04% of Installed Building Products worth $49,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Installed Building Products by 107.1% during the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company's stock valued at $169,000 after purchasing an additional 510 shares during the period. Fifth Third Bancorp increased its position in 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 purchasing an additional 97 shares during the period. Crossmark Global Holdings Inc. increased its position in Installed Building Products by 27.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company's stock valued at $379,000 after purchasing an additional 473 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Installed Building Products by 36.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company's stock valued at $356,000 after purchasing an additional 557 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in 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 period. Institutional investors and hedge funds own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction dated 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 owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of Installed Building Products stock in a transaction dated 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 approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.20% of the company's stock.

Wall Street Analyst Weigh In

IBP has been the subject of a number of recent analyst reports. Benchmark decreased their target price on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. DA Davidson cut Installed Building Products from a "buy" rating to a "hold" rating and increased their price target for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. 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. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $217.36.

Installed Building Products Stock Down 0.6%

Shares of IBP traded down $1.4750 during trading hours on Thursday, reaching $261.7950. The stock had a trading volume of 55,349 shares, compared to its average volume of 435,997. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $275.76. The firm has a 50-day simple moving average of $205.23 and a 200 day simple moving average of $181.66. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 29.12 and a beta of 1.73.

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 company had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. During the same period last year, the business earned $2.84 EPS. Installed Building Products's quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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