Vanguard Group Inc. Has $458.02 Million Holdings in Installed Building Products, Inc. $IBP

Key Points

• Vanguard Group Inc. has increased its stake in Installed Building Products by 1.3%, now holding approximately 2.67 million shares valued at $458 million.
• Installed Building Products reported earnings per share (EPS) of $2.95 for the quarter, exceeding analysts' estimates of $2.45, with revenue also surpassing expectations at $760.30 million.
• The company announced a quarterly dividend of $0.37 per share, which will be paid on September 30, and represents an annual yield of 0.6%.

Vanguard Group Inc. raised its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,671,315 shares of the construction company's stock after purchasing an additional 34,512 shares during the quarter. Vanguard Group Inc. owned 9.67% of Installed Building Products worth $458,024,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. UMB Bank n.a. grew its stake in shares of Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after buying an additional 108 shares during the period. Fifth Third Bancorp grew its position in shares of Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after purchasing an additional 97 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Installed Building Products in the fourth quarter worth $90,000. Finally, CWM LLC grew its position in Installed Building Products by 178.7% in the first quarter. CWM LLC now owns 588 shares of the construction company's stock worth $101,000 after acquiring an additional 377 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Up 1.2%

Shares of NYSE IBP traded up $3.1850 during midday trading on Tuesday, hitting $268.5250. The company's stock had a trading volume of 220,096 shares, compared to its average volume of 436,532. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 29.87 and a beta of 1.73. 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, Inc. has a 1 year low of $150.83 and a 1 year high of $275.76. The business's fifty day simple moving average is $201.49 and its two-hundred day simple moving average is $180.48.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $760.30 million for 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%. Installed Building Products's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.84 EPS. On average, equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is 16.46%.

Insider Transactions at Installed Building Products

In related news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the completion of the sale, the insider owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the 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 transaction, the chief accounting officer owned 6,822 shares of the company's stock, 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. Corporate insiders own 16.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IBP. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a report on Friday, August 8th. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. 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. Finally, Jefferies Financial Group lifted 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 note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $217.36.

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.