Royal Bank of Canada Increases Position in Installed Building Products, Inc. $IBP

Royal Bank of Canada increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,348 shares of the construction company's stock after acquiring an additional 8,714 shares during the period. Royal Bank of Canada owned approximately 0.58% of Installed Building Products worth $27,665,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Graham Capital Management L.P. acquired a new stake in shares of Installed Building Products during the 1st quarter valued at about $514,000. Vident Advisory LLC acquired a new position in shares of Installed Building Products during the first quarter valued at approximately $211,000. Pembroke Management LTD raised its holdings in shares of Installed Building Products by 11.6% during the first quarter. Pembroke Management LTD now owns 172,222 shares of the construction company's stock valued at $29,529,000 after acquiring an additional 17,887 shares during the last quarter. State of Wyoming raised its holdings in shares of Installed Building Products by 24.8% during the first quarter. State of Wyoming now owns 1,048 shares of the construction company's stock valued at $180,000 after acquiring an additional 208 shares during the last quarter. Finally, Timucuan Asset Management Inc. FL acquired a new position in shares of Installed Building Products during the first quarter valued at approximately $85,786,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research analyst reports. Danske cut Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price for the company. in a report on Tuesday, August 12th. Jefferies Financial Group increased their target price on Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Loop Capital lowered 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 research note on Friday, August 8th. Finally, 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. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $217.36.

Installed Building Products Trading Up 2.7%

Shares of IBP stock traded up $7.27 during trading on Thursday, hitting $273.16. 229,100 shares of the stock traded hands, compared to its average volume of 439,954. The firm has a market capitalization of $7.47 billion, a P/E ratio of 30.38 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. The firm's fifty day moving average price is $233.10 and its 200-day moving average price is $190.72. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. As a group, research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's payout ratio is presently 16.46%.

Insider Activity

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the sale, the insider owned 37,999 shares of the company's stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet E. Jackson sold 1,469 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock worth $3,123,578 in the last 90 days. 16.20% of the stock is owned by corporate insiders.

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.