Swedbank AB Has $61.38 Million Holdings in Installed Building Products, Inc. $IBP

Key Points

• Swedbank AB acquired an additional 28,000 shares of Installed Building Products, increasing its total holdings by 8.5% to 358,000 shares worth approximately $61.4 million.
• Installed Building Products reported earnings of $2.95 per share for the last quarter, surpassing analyst expectations of $2.45, alongside a 3.1% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.37 per share, reflecting a 0.6% dividend yield, with an ex-dividend date on September 15th.

Swedbank AB grew its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 358,000 shares of the construction company's stock after purchasing an additional 28,000 shares during the quarter. Swedbank AB owned about 1.30% of Installed Building Products worth $61,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IBP. Eminence Capital LP bought a new position in shares of Installed Building Products during the 1st quarter valued at $109,114,000. Timucuan Asset Management Inc. FL bought a new position in shares of Installed Building Products during the 1st quarter valued at $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Installed Building Products by 190.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company's stock valued at $51,831,000 after purchasing an additional 198,391 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Installed Building Products by 35,416.8% during the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock valued at $289,870,000 after purchasing an additional 168,584 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Installed Building Products by 28.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock valued at $90,905,000 after purchasing an additional 117,810 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

IBP has been the topic of a number of recent research reports. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Loop Capital lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Jefferies Financial Group lifted their price objective on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Finally, Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $217.36.

Insider Activity

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider directly owned 37,999 shares in the company, valued at $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock valued at $3,123,578 in the last ninety days. 16.20% of the stock is currently owned by corporate insiders.

Installed Building Products Price Performance

Shares of Installed Building Products stock traded up $5.46 during trading on Thursday, hitting $264.14. 93,890 shares of the company's stock traded hands, compared to its average volume of 440,865. 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 $240.10 and its 200 day moving average price is $193.99. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a market cap of $7.22 billion, a PE ratio of 29.38 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its 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. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. During the same period in the previous year, the business earned $2.84 EPS. The firm's revenue was up 3.1% on a year-over-year basis. Analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share 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 given a $0.37 dividend. The ex-dividend date 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%.

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.