Invesco Ltd. Lowers Position in Installed Building Products, Inc. $IBP

Key Points

• Invesco Ltd. reduced its stake in Installed Building Products, Inc. by 44.0% during the first quarter, now owning approximately 0.43% of the company, valued at $20.37 million.
• Installed Building Products exceeded analysts' earnings estimates by reporting $2.95 earnings per share, beating the expected $2.45, with revenue of $760.30 million for the quarter.
• The company declared a quarterly dividend of $0.37 per share, set to be paid on September 30th, with a current dividend yield of 0.6%.

Invesco Ltd. trimmed its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,772 shares of the construction company's stock after selling 93,448 shares during the quarter. Invesco Ltd. owned about 0.43% of Installed Building Products worth $20,365,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted 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 valued at $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp increased its holdings 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 valued at $39,000 after acquiring an additional 97 shares in the last quarter. McIlrath & Eck LLC increased its holdings 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 valued at $44,000 after acquiring an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Installed Building Products during the fourth quarter valued at about $90,000. Finally, Covestor Ltd increased its holdings 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 valued at $96,000 after acquiring an additional 267 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE:IBP traded down $7.36 during midday trading on Wednesday, hitting $269.52. The company's stock had a trading volume of 578,451 shares, compared to its average volume of 677,549. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $278.74. The firm's 50 day moving average is $215.79 and its 200-day moving average is $184.50. 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 has a market cap of $7.37 billion, a P/E ratio of 29.98 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share 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 quarter in the prior year, the company earned $2.84 EPS. Installed Building Products's quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business 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 $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.

Insider Buying and Selling

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the sale, the director owned 6,873 shares in the company, valued at approximately $1,828,218. This represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brad A. Wheeler sold 3,186 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the completion of the sale, the chief operating officer owned 8,736 shares in the company, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IBP shares. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Jefferies Financial Group upped 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. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Finally, Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $217.36.

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.