TD Asset Management Inc Purchases 2,852 Shares of Installed Building Products, Inc. (NYSE:IBP)

Key Points

• TD Asset Management Inc increased its stake in Installed Building Products by 29.4% during the first quarter, owning a total of 12,566 shares worth approximately $2.15 million.
• Installed Building Products reported an EPS of $2.08 for the latest quarter, which missed estimates by $0.15, while revenue decreased by 1.2% year-over-year.
• The company announced a quarterly dividend of $0.37 per share, translating to an annual yield of 0.7% and a dividend payout ratio of 16.88%.

TD Asset Management Inc raised its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 29.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,566 shares of the construction company's stock after acquiring an additional 2,852 shares during the quarter. TD Asset Management Inc's holdings in Installed Building Products were worth $2,155,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IBP. JPMorgan Chase & Co. lifted its holdings in Installed Building Products by 112.6% in the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock valued at $26,949,000 after acquiring an additional 81,455 shares during the period. Norges Bank bought a new position in Installed Building Products in the fourth quarter valued at about $28,509,000. Pictet Asset Management Holding SA lifted its holdings in Installed Building Products by 8.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,397 shares of the construction company's stock valued at $595,000 after acquiring an additional 257 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Installed Building Products by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,992 shares of the construction company's stock valued at $700,000 after acquiring an additional 146 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Installed Building Products by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 143,579 shares of the construction company's stock valued at $25,162,000 after acquiring an additional 2,939 shares during the period. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Up 2.1%

NYSE IBP opened at $206.52 on Friday. The stock's 50-day moving average price is $182.38 and its 200-day moving average price is $176.94. The company has a quick ratio of 2.31, a current ratio of 2.89 and a debt-to-equity ratio of 1.28. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $259.59. The company has a market capitalization of $5.70 billion, a P/E ratio of 23.55 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. The company had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. During the same period last year, the business earned $2.47 EPS. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 0.7%. Installed Building Products's dividend payout ratio (DPR) is currently 16.88%.

Wall Street Analyst Weigh In

IBP has been the topic of a number of recent research reports. Loop Capital lowered their target price on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Benchmark decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $212.45.

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.

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