Livforsakringsbolaget Skandia Omsesidigt Acquires 168,900 Shares of Installed Building Products, Inc. $IBP

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its stake in Installed Building Products, Inc. by purchasing 168,900 shares, bringing its total ownership to approximately 0.64% of the company, valued at $32,061,000.
• The company reported a strong quarterly performance with earnings per share of $2.95, exceeding analysts' expectations of $2.45, and a revenue of $760.30 million.
• Installed Building Products announced a quarterly dividend of $0.37 per share, representing a dividend yield of 0.6%, with the payment date set for September 30th.

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1,897.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 177,800 shares of the construction company's stock after acquiring an additional 168,900 shares during the period. Installed Building Products makes up 0.0% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 26th largest holding. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.64% of Installed Building Products worth $32,061,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in IBP. UMB Bank n.a. increased its holdings in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after purchasing an additional 108 shares during the last quarter. Fifth Third Bancorp increased its stake in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after acquiring an additional 97 shares during the last quarter. McIlrath & Eck LLC increased its stake in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Installed Building Products in the 4th quarter worth approximately $90,000. Finally, Advisors Asset Management Inc. increased its position in Installed Building Products by 36.7% in the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after purchasing an additional 149 shares during the last quarter. 99.61% of the stock is owned by institutional investors.

Insider Activity at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer directly 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 valued at $3,123,578 over the last 90 days. 16.20% of the stock is currently owned by insiders.

Installed Building Products Trading Down 1.8%

Shares of IBP traded down $4.71 during mid-day trading on Friday, reaching $259.00. 739,177 shares of the company's stock traded hands, compared to its average volume of 445,499. The stock's 50-day moving average is $242.50 and its two-hundred day moving average is $195.33. The stock has a market cap of $7.08 billion, a P/E ratio of 28.81 and a beta of 1.76. 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, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.84 EPS. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IBP shares. Jefferies Financial Group boosted their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a report on Tuesday, August 12th. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a report on Friday, August 8th. Finally, Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. 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 stock. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $217.36.

About Installed Building Products

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.