Verdence Capital Advisors LLC Acquires New Position in Installed Building Products, Inc. $IBP

Key Points

• Verdence Capital Advisors LLC acquired a new stake in Installed Building Products, purchasing 1,222 shares valued at approximately $220,000 in the second quarter of this year.
• Several institutional investors significantly increased their holdings in Installed Building Products, with SRH Advisors LLC growing its position by 70.8% and CWM LLC by 178.7% in recent quarters.
• Installed Building Products reported earnings of $2.95 per share for the last quarter, beating expectations, and announced a quarterly dividend of $0.37 per share, reflecting an annual yield of 0.6%.

Verdence Capital Advisors LLC acquired a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,222 shares of the construction company's stock, valued at approximately $220,000.

Other institutional investors have also recently made changes to their positions in the company. SRH Advisors LLC grew its holdings in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock valued at $37,000 after purchasing an additional 85 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Installed Building Products by 74.6% in the first 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. Advisors Asset Management Inc. grew its holdings in shares of Installed Building Products by 36.7% in the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock valued at $95,000 after purchasing an additional 149 shares in the last quarter. Covestor Ltd grew its holdings in shares of Installed Building Products by 92.1% in the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after purchasing an additional 267 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Installed Building Products by 178.7% in the first quarter. CWM LLC now owns 588 shares of the construction company's stock valued at $101,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBP shares. Zacks Research raised shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a research report on Friday, August 8th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $220.45.

Installed Building Products Trading Down 0.5%

Shares of Installed Building Products stock opened at $254.89 on Friday. The company has a fifty day simple moving average of $258.89 and a 200-day simple moving average of $204.96. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. 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 stock has a market cap of $6.97 billion, a price-to-earnings ratio of 28.35 and a beta of 1.83.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results 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 business had revenue of $760.30 million during 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%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.84 EPS. On average, equities analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio is currently 16.46%.

Insider Buying and Selling at Installed Building Products

In related news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction 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 in the company, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet E. Jackson sold 1,469 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the sale, the director owned 6,873 shares of the company's stock, valued at approximately $1,828,218. This represents a 17.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock worth $3,123,578 in the last quarter. 16.20% of the stock is currently owned by company insiders.

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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