Strs Ohio Takes Position in Installed Building Products, Inc. $IBP

Key Points

• Strs Ohio acquired a new stake in Installed Building Products, purchasing 1,800 shares valued at approximately $309,000 during the first quarter of 2023.
• Installed Building Products reported earnings of $2.95 per share, exceeding analysts' expectations of $2.45, and showed a 3.1% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.37, with a payout ratio of 16.46%, and the ex-dividend date set for September 15th.

Strs Ohio bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,800 shares of the construction company's stock, valued at approximately $309,000.

Several other large investors have also recently modified their holdings of the company. 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 purchasing an additional 108 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after acquiring an additional 97 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Installed Building Products by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after acquiring an additional 149 shares during the last quarter. Covestor Ltd increased its holdings 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 acquiring an additional 267 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Installed Building Products by 178.7% during the first quarter. CWM LLC now owns 588 shares of the construction company's stock valued at $101,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Trading Up 0.1%

Installed Building Products stock opened at $256.99 on Wednesday. The firm has a market cap of $7.02 billion, a PE ratio of 28.59 and a beta of 1.76. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00. The stock's 50 day simple moving average is $244.97 and its two-hundred day simple moving average is $196.61. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. The firm had revenue of $760.30 million during 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%. The business's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 EPS. Analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

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 $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's payout ratio is currently 16.46%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 target price (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research note on Friday, August 8th. Jefferies Financial Group upped their target price on Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. DA Davidson cut 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 report on Tuesday, August 12th. Finally, Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $217.36.

Insiders Place Their Bets

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider owned 37,999 shares in the company, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the firm'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 value of $128,635.00. Following the completion of the sale, the chief accounting officer directly owned 6,822 shares in the company, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is owned by company insiders.

Installed Building Products Company 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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