Vest Financial LLC Boosts Holdings in Installed Building Products, Inc. $IBP

Vest Financial LLC lifted its stake in Installed Building Products, Inc. (NYSE:IBP) by 40.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 22,374 shares of the construction company’s stock after buying an additional 6,389 shares during the quarter. Vest Financial LLC’s holdings in Installed Building Products were worth $4,034,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. raised 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 worth $32,000 after buying an additional 108 shares during the last quarter. SRH Advisors LLC raised its position in Installed Building Products by 70.8% in the 2nd 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 last quarter. Fifth Third Bancorp raised 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 worth $39,000 after buying an additional 97 shares during the last quarter. Advisors Asset Management Inc. raised its position in Installed Building Products by 36.7% in the 1st 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 last quarter. Finally, Covestor Ltd raised its position in Installed Building Products by 92.1% in the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBP shares. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Evercore ISI set a $240.00 target price on Installed Building Products in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Finally, Loop Capital lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Two 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, the company currently has a consensus rating of “Hold” and a consensus target price of $220.45.

Installed Building Products Trading Up 0.4%

Installed Building Products stock opened at $240.19 on Tuesday. The business has a 50-day simple moving average of $257.20 and a two-hundred day simple moving average of $203.66. The company has a market cap of $6.56 billion, a P/E ratio of 26.72 and a beta of 1.83. 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 quarterly 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. The business had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 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 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.84 EPS. Analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business 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 was Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s payout ratio is 16.46%.

Insider Buying and Selling

In related news, Director Janet E. Jackson sold 1,469 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 approximately $1,828,218. The trade was a 17.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brad A. Wheeler sold 3,186 shares of the business’s 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 transaction, the chief operating officer owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,655 shares of company stock valued at $3,123,578. 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.