Nuveen LLC Buys Shares of 62,877 Installed Building Products, Inc. $IBP

Key Points

• Nuveen LLC has invested approximately $10.78 million in Installed Building Products, purchasing 62,877 shares during the first quarter, representing a 0.23% ownership stake.
• Installed Building Products reported an earnings per share (EPS) of $2.95 for the quarter, exceeding analysts' expectations of $2.45, with a revenue of $760.30 million.
• The company recently announced a quarterly dividend of $0.37 per share, with a dividend yield of 0.5%, to be paid out on September 30th.

Nuveen LLC bought a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 62,877 shares of the construction company's stock, valued at approximately $10,781,000. Nuveen LLC owned about 0.23% of Installed Building Products at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp increased its stake 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 buying an additional 97 shares during the period. McIlrath & Eck LLC increased its stake 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 buying an additional 61 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Installed Building Products during the fourth quarter valued at approximately $90,000. Finally, Covestor Ltd increased its stake 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 buying an additional 267 shares during the period. Institutional investors own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet E. Jackson sold 1,469 shares of the firm'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 completion of the sale, the director directly owned 6,873 shares of the company's stock, valued at $1,828,218. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd R. Fry sold 500 shares of the firm's 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 sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,469 shares of company stock worth $2,246,504 in the last quarter. 16.20% of the stock is owned by corporate insiders.

Installed Building Products Price Performance

Shares of NYSE:IBP traded down $5.43 during trading on Wednesday, hitting $271.45. 359,599 shares of the company's stock were exchanged, compared to its average volume of 440,910. 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 52-week low of $150.83 and a 52-week high of $278.74. The business's 50-day simple moving average is $213.67 and its 200 day simple moving average is $183.91. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 30.19 and a beta of 1.73.

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 the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.84 EPS. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The company 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 dividend of $0.37 per share. 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 (DPR) is currently 16.46%.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Loop Capital cut Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a research note on Friday, August 8th. Benchmark cut their target price on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Two 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 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.