Trinity Financial Advisors LLC Invests $1.24 Million in Installed Building Products, Inc. $IBP

Key Points

• Trinity Financial Advisors LLC has acquired a new position in Installed Building Products, Inc. during the 2nd quarter, purchasing 6,900 shares valued at approximately $1.24 million.
• Installed Building Products reported earnings per share (EPS) of $2.95 for the latest quarter, exceeding estimates and marking a 3.1% increase in revenue compared to last year.
• The company has a dividend payout ratio of 16.46%, recently declaring a quarterly dividend of $0.37 to be paid on September 30th.

Trinity Financial Advisors LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,900 shares of the construction company's stock, valued at approximately $1,244,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. McIlrath & Eck LLC raised its holdings in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares during the period. Xponance Inc. raised its stake in Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after buying an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Installed Building Products by 7.1% during the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock worth $194,000 after purchasing an additional 75 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP traded down $7.42 during trading hours on Friday, hitting $256.29. The company's stock had a trading volume of 178,467 shares, compared to its average volume of 440,074. The company's 50 day simple moving average is $241.33 and its two-hundred day simple moving average is $194.69. The company has a market cap of $7.00 billion, a P/E ratio of 28.47 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 company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share (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 for the quarter, compared to analysts' expectations of $711.37 million. During the same period in the prior year, the firm earned $2.84 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research reports. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price objective for the company. in a research report on Tuesday, August 12th. Jefferies Financial Group upped their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and raised their price target for the company from $225.00 to $252.00 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 report on Friday, August 8th. Two 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. According to MarketBeat.com, Installed Building Products has an average rating of "Hold" and a consensus target price of $217.36.

Insiders Place Their Bets

In related news, Director Janet E. Jackson sold 1,469 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the completion of the sale, the director directly owned 6,873 shares of the company's stock, valued at $1,828,218. This represents a 17.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company's stock, valued at $2,404,933.44. The trade was a 26.72% 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 worth $3,123,578 over the last ninety days. Company insiders own 16.20% of the company's stock.

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.