Jump Financial LLC Sells 12,419 Shares of Installed Building Products, Inc. $IBP

Key Points

• Jump Financial LLC significantly reduced its holdings in Installed Building Products, Inc. by 87.9% in the first quarter, now owning just 1,709 shares worth $293,000.
• Installed Building Products reported strong quarterly earnings of $2.95 per share, surpassing estimates, with revenue of $760.30 million, reflecting a 3.1% increase from the previous year.
• The company declared a quarterly dividend of $0.37 per share, indicating a 0.6% dividend yield with a payout ratio of 16.46%.

Jump Financial LLC decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 87.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,709 shares of the construction company's stock after selling 12,419 shares during the quarter. Jump Financial LLC's holdings in Installed Building Products were worth $293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Installed Building Products by 35,416.8% in the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock valued at $289,870,000 after acquiring an additional 168,584 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Installed Building Products by 28.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock valued at $90,905,000 after purchasing an additional 117,810 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of Installed Building Products by 56.7% in the 1st quarter. Boston Trust Walden Corp now owns 258,256 shares of the construction company's stock valued at $44,281,000 after purchasing an additional 93,411 shares in the last quarter. Royce & Associates LP increased its stake in shares of Installed Building Products by 48.3% in the 1st quarter. Royce & Associates LP now owns 240,409 shares of the construction company's stock valued at $41,221,000 after purchasing an additional 78,246 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in Installed Building Products by 471.8% in the 4th quarter. Voloridge Investment Management LLC now owns 80,177 shares of the construction company's stock valued at $14,051,000 after purchasing an additional 66,156 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Installed Building Products

In related news, COO Brad A. Wheeler sold 3,186 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company'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 completion of the transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock worth $3,123,578 in the last three months. 16.20% of the stock is currently owned by company insiders.

Installed Building Products Stock Performance

IBP stock traded down $13.81 on Tuesday, reaching $265.66. The company's stock had a trading volume of 129,949 shares, compared to its average volume of 439,315. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $280.00. The company has a market capitalization of $7.26 billion, a P/E ratio of 29.58 and a beta of 1.76. The firm has a fifty day moving average of $230.27 and a two-hundred day moving average of $189.67. 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 data 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 return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same period last year, the company posted $2.84 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is 16.46%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBP. Loop Capital cut Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a report on Friday, August 8th. Jefferies Financial Group increased their price target on Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. DA Davidson lowered Installed Building Products from a "buy" rating to a "hold" rating and raised their price objective for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. Danske lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target on the stock. in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada restated an "underperform" rating and issued a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and an average 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.