WCM Investment Management LLC Purchases 22,459 Shares of Installed Building Products, Inc. $IBP

Key Points

• WCM Investment Management LLC increased its stake in Installed Building Products, Inc. by 24.5%, acquiring 22,459 shares during the second quarter, bringing its total holdings to 114,076 shares worth approximately $20.36 million.
• Installed Building Products reported a net income of $2.95 per share for the last quarter, surpassing expectations and showing a 3.1% revenue growth year over year.
• The company declared a quarterly dividend of $0.37 per share with a dividend yield of 0.6%, reflecting a payout ratio of approximately 16.46%.

WCM Investment Management LLC lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 114,076 shares of the construction company's stock after acquiring an additional 22,459 shares during the quarter. WCM Investment Management LLC owned approximately 0.41% of Installed Building Products worth $20,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SRH Advisors LLC grew its stake in shares of Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock worth $37,000 after acquiring an additional 85 shares during the period. Fifth Third Bancorp grew its stake 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 acquiring an additional 97 shares during the period. Advisors Asset Management Inc. grew its stake 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 acquiring an additional 149 shares during the period. Covestor Ltd grew its stake 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 acquiring an additional 267 shares during the period. Finally, CWM LLC grew its stake 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 acquiring an additional 377 shares during the period. Institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IBP. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Jefferies Financial Group raised their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Installed Building Products in a research note on Wednesday, October 8th. Two investment 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, Installed Building Products presently has a consensus rating of "Hold" and a consensus target price of $220.45.

Installed Building Products Stock Up 0.1%

Shares of NYSE IBP opened at $256.64 on Thursday. The business has a 50-day simple moving average of $258.91 and a two-hundred day simple moving average of $204.39. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $280.00. The company has a market cap of $7.01 billion, a P/E ratio of 28.55 and a beta of 1.83. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating 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 firm had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the firm posted $2.84 EPS. The company's revenue was up 3.1% compared to the same quarter last year. Research analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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

Insiders Place Their Bets

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction dated 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 $10,096,714.29. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the completion of the sale, the chief operating officer directly owned 8,736 shares in the company, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by 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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