Fluent Financial LLC Makes New Investment in Installed Building Products, Inc. $IBP

Fluent Financial LLC bought a new stake in Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,694 shares of the construction company’s stock, valued at approximately $1,027,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings in shares of Installed Building Products by 142.1% in the 1st 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. SRH Advisors LLC grew its position in Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares during the period. Fifth Third Bancorp increased its holdings in 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 buying 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 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock valued at $95,000 after acquiring an additional 149 shares during the period. Finally, Covestor Ltd boosted 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 in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,655 shares of company stock worth $3,123,578 in the last three months. 16.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Loop Capital downgraded Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a research note on Friday, August 8th. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Finally, Danske downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price for the company. in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $220.45.

Installed Building Products Stock Up 3.3%

IBP opened at $242.98 on Thursday. The firm has a market cap of $6.64 billion, a P/E ratio of 27.03 and a beta of 1.83. The business’s fifty day simple moving average is $255.24 and its 200 day simple moving average is $201.93. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $280.00. 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) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. During the same period in the prior year, the firm earned $2.84 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed 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 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 is presently 16.46%.

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.