VELA Investment Management LLC raised its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 288.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,750 shares of the construction company's stock after buying an additional 9,469 shares during the quarter. VELA Investment Management LLC's holdings in Installed Building Products were worth $2,299,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SRH Advisors LLC raised its stake in Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock valued at $37,000 after buying an additional 85 shares in the last quarter. Fifth Third Bancorp raised 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 worth $39,000 after purchasing an additional 97 shares during the period. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 36.7% during the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after purchasing an additional 149 shares during the period. Covestor Ltd raised its position in shares of Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after purchasing an additional 267 shares during the period. Finally, CWM LLC raised its position in shares of Installed Building Products by 178.7% during the 1st quarter. CWM LLC now owns 588 shares of the construction company's stock worth $101,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.
Insiders Place Their Bets
In other news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the sale, the chief accounting officer owned 6,822 shares of the company's stock, valued at $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by corporate insiders.
Installed Building Products Stock Performance
Shares of NYSE IBP opened at $254.89 on Friday. The firm has a market cap of $6.97 billion, a P/E ratio of 28.35 and a beta of 1.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The stock has a fifty day moving average price of $258.89 and a two-hundred day moving average price of $204.96. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00.
Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $2.84 EPS. Research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.
Installed Building Products Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is 16.46%.
Analysts Set New Price Targets
Several analysts recently commented on the company. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Wall Street Zen lowered Installed Building Products from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Royal Bank Of Canada reiterated 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. Evercore ISI set a $240.00 price target on Installed Building Products in a research report on Tuesday, October 7th. Finally, Loop Capital lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $220.45.
Check Out Our Latest Report on Installed Building Products
Installed Building Products Company Profile
(
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.
Further Reading
Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products, Inc. (NYSE:IBP - Free Report).
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