Timucuan Asset Management Inc. FL purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 500,327 shares of the construction company's stock, valued at approximately $85,786,000. Installed Building Products comprises 2.6% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 15th largest position. Timucuan Asset Management Inc. FL owned approximately 1.81% of Installed Building Products as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. raised its holdings in Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after acquiring an additional 108 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after purchasing an additional 97 shares in the last quarter. McIlrath & Eck LLC grew its stake in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth $90,000. Finally, Covestor Ltd grew its stake 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 worth $96,000 after purchasing an additional 267 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider William Jeffrey Hire sold 6,500 shares of the company's stock in a transaction 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 of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Janet E. Jackson sold 1,469 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the transaction, the director directly owned 6,873 shares in the company, valued at $1,828,218. This represents a 17.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,655 shares of company stock worth $3,123,578. Insiders own 16.20% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on IBP shares. Benchmark dropped their price target on shares of 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. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and increased their price target for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Jefferies Financial Group increased their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. Danske lowered shares of 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. Finally, Zelman & Associates upgraded shares of 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 issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and an average price target of $217.36.
View Our Latest Analysis on IBP
Installed Building Products Stock Performance
Shares of Installed Building Products stock traded down $1.42 during trading hours on Friday, hitting $261.97. 244,986 shares of the company were exchanged, compared to its average volume of 669,493. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $278.74. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average of $219.59 and a 200-day moving average of $185.63. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 29.14 and a beta of 1.73.
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, topping the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter in the prior year, the business earned $2.84 earnings per share. The company's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.
Installed Building Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.
Installed Building Products Company Profile
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Free Report)
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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