Yousif Capital Management LLC Lowers Position in Installed Building Products, Inc. $IBP

Yousif Capital Management LLC cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,597 shares of the construction company’s stock after selling 59 shares during the quarter. Yousif Capital Management LLC’s holdings in Installed Building Products were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Installed Building Products by 107.1% during the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company’s stock worth $169,000 after purchasing an additional 510 shares during the period. Fifth Third Bancorp increased its stake in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock worth $39,000 after purchasing an additional 97 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Installed Building Products by 27.2% during the first quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company’s stock worth $379,000 after purchasing an additional 473 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Installed Building Products by 36.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company’s stock valued at $356,000 after purchasing an additional 557 shares during the period. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Installed Building Products by 1.7% in the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock valued at $716,000 after purchasing an additional 68 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 0.6%

Shares of NYSE:IBP opened at $256.67 on Monday. The firm’s 50 day moving average price is $258.89 and its 200 day moving average price is $206.04. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 28.55 and a beta of 1.83. Installed Building Products, Inc. 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.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.50. The firm had revenue of $760.30 million for the quarter, compared to analysts’ expectations of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.84 earnings per share. As a group, equities research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend 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%.

Insiders Place Their Bets

In other news, Director Janet E. Jackson sold 1,469 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the sale, the director owned 6,873 shares of the company’s stock, valued at approximately $1,828,218. This trade represents a 17.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This trade represents a 26.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock worth $3,123,578 over the last 90 days. Insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBP. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Zelman & Associates raised Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. 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 report on Friday, August 8th. Danske cut Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price for the company. in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group increased their price target on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $220.45.

Installed Building Products Company 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.