Ascent Group LLC Has $5.26 Million Stock Position in Installed Building Products, Inc. $IBP

Ascent Group LLC raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,173 shares of the construction company’s stock after acquiring an additional 2,857 shares during the quarter. Ascent Group LLC owned approximately 0.11% of Installed Building Products worth $5,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in 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 acquiring an additional 108 shares during the period. Fifth Third Bancorp increased its position in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock valued at $39,000 after acquiring an additional 97 shares during the period. Advisors Asset Management Inc. increased 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 worth $95,000 after buying an additional 149 shares during the period. Covestor Ltd increased 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 worth $96,000 after buying an additional 267 shares during the period. Finally, CWM LLC increased 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 worth $101,000 after buying an additional 377 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm’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 transaction, the insider directly owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total transaction of $390,754.00. Following the completion of the transaction, the director directly owned 6,873 shares in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock valued at $3,123,578 over the last ninety days. 16.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Loop Capital cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a research report on Friday, August 8th. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price objective for the company. in a research report on Tuesday, August 12th. DA Davidson cut shares of Installed Building Products from a “buy” rating to a “hold” rating and increased their price objective for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. 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, Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $217.36.

Installed Building Products Stock Down 1.0%

Shares of NYSE IBP opened at $241.73 on Friday. The firm has a market cap of $6.61 billion, a PE ratio of 26.89 and a beta of 1.83. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. The company’s fifty day simple moving average is $253.23 and its 200 day simple moving average is $200.58. 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 issued its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. Installed Building Products’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.84 earnings per share. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is 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.