Installed Building Products, Inc. $IBP Shares Acquired by Boston Partners

Key Points

• Boston Partners increased its stake in Installed Building Products by 44.4%, acquiring an additional 38,747 shares and totaling 126,089 shares worth approximately $21.46 million.
• Installed Building Products reported quarterly earnings of $2.95 per share, exceeding expectations, with a revenue of $760.30 million for the period.
• The company declared a quarterly dividend of $0.37 per share, yielding 0.6%, with the ex-dividend date set for September 15th.

Boston Partners grew its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 44.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,089 shares of the construction company's stock after buying an additional 38,747 shares during the period. Boston Partners owned 0.46% of Installed Building Products worth $21,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Installed Building Products by 107.1% during the first 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 lifted its position in Installed Building Products by 74.6% during the first 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. lifted its position in Installed Building Products by 27.2% during the first 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 lifted its position in Installed Building Products by 36.6% during the first 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. lifted its position in Installed Building Products by 1.7% during the first 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. Hedge funds and other institutional investors own 99.61% of the company's stock.

Insider Activity

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the completion of the transaction, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd R. Fry sold 500 shares of the firm'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 transaction, the chief accounting officer 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price for the company. in a research report on Tuesday, August 12th. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Zacks Research raised shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Stock Down 1.1%

Shares of NYSE IBP traded down $2.9020 during mid-day trading on Thursday, reaching $260.3680. The company had a trading volume of 96,148 shares, compared to its average volume of 436,403. 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 firm has a 50 day simple moving average of $205.23 and a two-hundred day simple moving average of $181.66. The stock has a market cap of $7.12 billion, a P/E ratio of 28.97 and a beta of 1.73. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $275.76.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping 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 company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. During the same period last year, the firm posted $2.84 EPS. Installed Building Products's revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.37 dividend. The ex-dividend date 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 16.46%.

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.