Invesco Ltd. Reduces Stock Holdings 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. lessened its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 44.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 118,772 shares of the construction company's stock after selling 93,448 shares during the period. Invesco Ltd. owned approximately 0.43% of Installed Building Products worth $20,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company's stock valued at $458,024,000 after acquiring an additional 34,512 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Installed Building Products by 28.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock worth $90,905,000 after purchasing an additional 117,810 shares during the period. Van Berkom & Associates Inc. grew its holdings in Installed Building Products by 15.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 429,458 shares of the construction company's stock valued at $73,635,000 after purchasing an additional 56,000 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Installed Building Products by 87.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock valued at $59,249,000 after purchasing an additional 158,173 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in Installed Building Products by 13.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 323,741 shares of the construction company's stock worth $56,736,000 after purchasing an additional 37,511 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.2%

Shares of NYSE IBP opened at $263.7780 on Friday. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $275.76. The business has a fifty day moving average price of $207.10 and a 200 day moving average price of $182.19. The stock has a market capitalization of $7.21 billion, a P/E ratio of 29.34 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $711.37 million. During the same period last year, the business earned $2.84 EPS. The company's revenue was up 3.1% compared to the same quarter last year. Equities research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.46%.

Insider Activity

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares of the company's stock, valued at $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. 16.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent analyst reports. DA Davidson lowered Installed Building Products from a "buy" rating to a "hold" rating and boosted their target price for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Benchmark decreased 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 research note on Thursday, August 14th. Loop Capital downgraded 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. Finally, Jefferies Financial Group increased their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. 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 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.

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