Ausbil Investment Management Ltd Boosts Stake in Installed Building Products, Inc. (NYSE:IBP)

Ausbil Investment Management Ltd lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 66.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,676 shares of the construction company’s stock after acquiring an additional 3,862 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Installed Building Products were worth $2,489,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBP. Annapolis Financial Services LLC raised its holdings in Installed Building Products by 45.7% in the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after acquiring an additional 53 shares during the last quarter. Quarry LP raised its holdings in Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after acquiring an additional 57 shares during the last quarter. Shaker Investments LLC OH raised its holdings in Installed Building Products by 0.6% in the 4th quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company’s stock valued at $1,950,000 after acquiring an additional 66 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Installed Building Products by 2.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company’s stock valued at $758,000 after acquiring an additional 93 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Installed Building Products by 58.7% in the 4th quarter. Quadrant Capital Group LLC now owns 265 shares of the construction company’s stock valued at $48,000 after acquiring an additional 98 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 1.0 %

Shares of Installed Building Products stock traded up $1.99 during trading on Friday, hitting $204.15. 10,274 shares of the stock were exchanged, compared to its average volume of 284,030. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 22.87 and a beta of 1.95. The firm’s 50-day moving average price is $219.57 and its 200 day moving average price is $215.36. Installed Building Products, Inc. has a 12-month low of $106.01 and a 12-month high of $263.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. As a group, analysts forecast that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 0.69%. Installed Building Products’s dividend payout ratio is currently 15.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Loop Capital lifted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 10th. Evercore ISI raised their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Benchmark raised their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, DA Davidson assumed coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.30.

Insider Buying and Selling

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares in the company, valued at $3,024,464.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the transaction, the director now owns 7,046 shares in the company, valued at $1,491,285.90. The disclosure for this sale can be found here. 16.50% of the stock is owned by company insiders.

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.