LPL Financial LLC Acquires 3,368 Shares of Installed Building Products, Inc. (NYSE:IBP)

Key Points

• LPL Financial LLC increased its holdings in Installed Building Products, acquiring an additional 3,368 shares to bring its total to 23,772 shares, valued at approximately $3.98 million.
• Installed Building Products reported strong quarterly earnings, with an EPS of $2.95, surpassing analyst estimates of $2.45 and achieving revenue of $760.30 million.
• The company declared a quarterly dividend of $0.37 per share, which will be paid on September 30th, representing an annualized dividend yield of 0.6%.

LPL Financial LLC lifted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,772 shares of the construction company's stock after acquiring an additional 3,368 shares during the period. LPL Financial LLC owned approximately 0.09% of Installed Building Products worth $3,979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBP. UMB Bank n.a. increased 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 worth $32,000 after acquiring an additional 108 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after purchasing an additional 97 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Installed Building Products during the fourth quarter worth about $90,000. Finally, CWM LLC boosted its holdings in Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company's stock worth $101,000 after purchasing an additional 377 shares during the last quarter. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the topic of several analyst reports. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Jefferies Financial Group restated a "hold" rating and set a $225.00 price target (up from $175.00) on shares of Installed Building Products in a report on Tuesday. Benchmark cut their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. DA Davidson cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $252.00 in a report on Tuesday. Finally, Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $217.36.

Installed Building Products Stock Down 2.2%

IBP opened at $266.56 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 29.65 and a beta of 1.73. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $275.76. The company's 50-day moving average price is $197.50 and its two-hundred day moving average price is $179.83.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. Installed Building Products's revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.84 EPS. As a group, equities analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares in the company, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.20% of the company's stock.

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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