Royal Bank of Canada Boosts Stake in Installed Building Products, Inc. $IBP

Royal Bank of Canada raised its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,348 shares of the construction company's stock after purchasing an additional 8,714 shares during the period. Royal Bank of Canada owned about 0.58% of Installed Building Products worth $27,665,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the transaction, the director owned 6,873 shares of the company's stock, valued at approximately $1,828,218. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction 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 transaction, the chief accounting officer directly owned 6,822 shares in the company, valued at $1,755,095.94. This trade represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by corporate insiders.

Installed Building Products Price Performance

Shares of NYSE:IBP traded down $4.14 during trading on Friday, reaching $268.07. The stock had a trading volume of 359,995 shares, compared to its average volume of 439,854. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The business has a fifty day moving average price of $236.13 and a 200-day moving average price of $192.13. The stock has a market cap of $7.33 billion, a PE ratio of 29.82 and a beta of 1.76. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $280.00.

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 analysts' consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analyst estimates 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 in the previous year, the company posted $2.84 earnings per share. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid 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 payout ratio is 16.46%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. 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 research note on Tuesday, August 12th. Loop Capital lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a research note on Friday, August 8th. Finally, DA Davidson lowered Installed Building Products from a "buy" rating to a "hold" rating and lifted their price target for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Two investment 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average 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.