Installed Building Products (NYSE:IBP) Announces Quarterly Earnings Results

Installed Building Products (NYSE:IBP) released its earnings results on Wednesday. The construction company reported $3.18 EPS for the quarter, beating the consensus estimate of $2.69 by $0.49, Briefing.com reports. The firm had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.85 earnings per share.

Installed Building Products Stock Up 2.1%

Shares of IBP traded up $5.40 on Friday, hitting $257.32. The company’s stock had a trading volume of 340,666 shares, compared to its average volume of 431,738. Installed Building Products has a fifty-two week low of $150.83 and a fifty-two 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. The firm’s fifty day moving average price is $256.12 and its 200-day moving average price is $215.48. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 28.62 and a beta of 1.81.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.46%.

Analyst Ratings Changes

IBP has been the subject of a number of analyst reports. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Vertical Research assumed coverage on Installed Building Products in a report on Monday, October 20th. They set a “sell” rating on the stock. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price objective for the company. in a research note on Tuesday, August 12th. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and increased their target price for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Finally, Evercore ISI set a $265.00 price target on Installed Building Products in a research note on Thursday. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $224.45.

Insider Buying and Selling at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction that occurred on 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 approximately $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,655 shares of company stock worth $3,123,578. Company insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Installed Building Products by 84.1% during the second quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock worth $49,893,000 after purchasing an additional 126,435 shares during the period. Royal London Asset Management Ltd. grew its holdings in Installed Building Products by 57.5% during the second quarter. Royal London Asset Management Ltd. now owns 183,167 shares of the construction company’s stock valued at $33,029,000 after purchasing an additional 66,835 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Installed Building Products by 4,659.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock worth $30,996,000 after acquiring an additional 168,285 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Installed Building Products by 1.3% during the 2nd quarter. Raymond James Financial Inc. now owns 138,033 shares of the construction company’s stock valued at $24,890,000 after buying an additional 1,774 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Installed Building Products by 5.5% in the second quarter. Public Sector Pension Investment Board now owns 77,697 shares of the construction company’s stock worth $14,010,000 after acquiring an additional 4,036 shares during the period. Institutional investors and hedge funds own 99.61% 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.