Russell Investments Group Ltd. Acquires 11,260 Shares of Installed Building Products, Inc. $IBP

Russell Investments Group Ltd. boosted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 145.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,018 shares of the construction company’s stock after acquiring an additional 11,260 shares during the quarter. Russell Investments Group Ltd.’s holdings in Installed Building Products were worth $3,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBP. Vanguard Group Inc. raised its position in shares of Installed Building Products by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock valued at $458,024,000 after acquiring an additional 34,512 shares during the last quarter. Eminence Capital LP bought a new position in shares of Installed Building Products in the 1st quarter worth $109,114,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Installed Building Products by 11.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock worth $107,019,000 after purchasing an additional 63,315 shares during the period. Giverny Capital Inc. increased its holdings in Installed Building Products by 0.7% in the first quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company’s stock valued at $87,114,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Timucuan Asset Management Inc. FL bought a new stake in Installed Building Products in the first quarter valued at about $85,786,000. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Performance

Shares of IBP opened at $268.25 on Monday. The firm has a market cap of $7.27 billion, a P/E ratio of 28.87, a PEG ratio of 4.93 and a beta of 1.90. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78. The firm’s 50 day moving average price is $255.17 and its two-hundred day moving average price is $229.58.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.85 earnings per share. On average, analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.93%.

Analyst Upgrades and Downgrades

IBP has been the topic of a number of recent analyst reports. DA Davidson cut Installed Building Products from a “buy” rating to a “hold” rating and raised their target price for the stock from $225.00 to $252.00 in a 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 objective on the stock. in a research note on Tuesday, August 12th. Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 1st. Jefferies Financial Group increased their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company assumed coverage on shares of Installed Building Products in a report on Monday, November 17th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $222.80.

Insider Transactions at Installed Building Products

In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the sale, the insider owned 32,999 shares in the company, valued at approximately $8,303,538.37. The trade was a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director directly owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 16.20% 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.