Vest Financial LLC Purchases 6,389 Shares of Installed Building Products, Inc. $IBP

Key Points

• Vest Financial LLC has increased its stake in Installed Building Products, Inc. by 40%, purchasing an additional 6,389 shares, bringing its total holding to 22,374 shares worth approximately $4 million.
• The company's recent earnings report showed an EPS of $2.95, exceeding estimates by $0.50, with revenue increasing 3.1% year-over-year to $760.30 million.
• Installed Building Products declared a quarterly dividend of $0.37 per share, resulting in an annualized yield of 0.6% and a dividend payout ratio of 16.46%.

Vest Financial LLC lifted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 40.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,374 shares of the construction company's stock after purchasing an additional 6,389 shares during the period. Vest Financial LLC owned about 0.08% of Installed Building Products worth $4,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC grew its holdings in shares of Installed Building Products by 10.6% in the second quarter. Inspire Investing LLC now owns 2,649 shares of the construction company's stock worth $478,000 after purchasing an additional 253 shares during the last quarter. Fluent Financial LLC bought a new position in shares of Installed Building Products in the second quarter worth approximately $1,027,000. KLP Kapitalforvaltning AS grew its holdings in shares of Installed Building Products by 6.5% in the second quarter. KLP Kapitalforvaltning AS now owns 4,900 shares of the construction company's stock worth $884,000 after purchasing an additional 300 shares during the last quarter. 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 worth $37,000 after purchasing an additional 85 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Installed Building Products by 11.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company's stock worth $107,019,000 after purchasing an additional 63,315 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $240.19 on Tuesday. 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 firm has a market capitalization of $6.56 billion, a P/E ratio of 26.72 and a beta of 1.83. The business has a fifty day simple moving average of $257.20 and a two-hundred day simple moving average of $203.66. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 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 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 for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.84 earnings per share. On average, equities analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.48 annualized dividend and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is currently 16.46%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Danske cut 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 report on Tuesday, August 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Installed Building Products in a report on Wednesday, October 8th. Wall Street Zen cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. 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 equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $220.45.

Insider Transactions at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total transaction of $877,073.94. Following the completion of the transaction, the chief operating officer owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Janet E. Jackson sold 1,469 shares of Installed Building Products 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 transaction, the director directly 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. Over the last three months, insiders sold 11,655 shares of company stock worth $3,123,578. Corporate insiders own 16.20% of the company's stock.

About Installed Building Products

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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