Ascent Group LLC Acquires 2,857 Shares of Installed Building Products, Inc. $IBP

Ascent Group LLC raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,173 shares of the construction company’s stock after buying an additional 2,857 shares during the period. Ascent Group LLC’s holdings in Installed Building Products were worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of Installed Building Products by 142.1% during the first quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock valued at $32,000 after purchasing an additional 108 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Installed Building Products by 74.6% during 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. lifted its position in shares of Installed Building Products by 36.7% during 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 lifted its position in shares of Installed Building Products by 92.1% during 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 lifted its position in shares of Installed Building Products by 178.7% during 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. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on IBP shares. Jefferies Financial Group raised their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. DA Davidson lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and raised their price target for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Danske lowered 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 research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Saturday. 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 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $217.36.

Installed Building Products Stock Performance

NYSE IBP opened at $241.73 on Friday. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00. The company has a 50-day simple moving average of $253.23 and a 200 day simple moving average of $200.58. 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 company has a market capitalization of $6.61 billion, a PE ratio of 26.89 and a beta of 1.83.

Installed Building Products (NYSE:IBP) last posted its earnings results 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 firm had revenue of $760.30 million during the quarter, compared to the consensus estimate 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 was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $2.84 earnings per share. On average, research analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current 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 paid a $0.37 dividend. The ex-dividend date 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%.

Insider Buying and Selling at Installed Building Products

In other news, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products 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 transaction, the chief operating officer owned 8,736 shares in the company, valued at $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer owned 6,822 shares of the company’s stock, valued at $1,755,095.94. The trade was a 6.83% 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 over the last three months. Company insiders own 16.20% of the company’s stock.

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.