Kennedy Capital Management LLC Lowers Holdings in Installed Building Products, Inc. $IBP

Kennedy Capital Management LLC trimmed its stake in Installed Building Products, Inc. (NYSE:IBP) by 11.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 63,371 shares of the construction company’s stock after selling 7,863 shares during the quarter. Kennedy Capital Management LLC’s holdings in Installed Building Products were worth $11,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IBP. Curio Wealth LLC raised its position in shares of Installed Building Products by 16,800.0% in the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after purchasing an additional 168 shares during the last quarter. SRH Advisors LLC increased its stake in Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after purchasing an additional 85 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 36.7% in the first 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. Covestor Ltd lifted its stake in shares of Installed Building Products by 92.1% in the first quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after buying an additional 267 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Installed Building Products during the second quarter valued at approximately $184,000. 99.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the sale, the director directly owned 8,373 shares in the company, valued at $2,246,308.44. This trade represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the transaction, the insider directly owned 32,999 shares of the company’s stock, valued at $8,303,538.37. This represents a 13.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

IBP has been the subject of a number of recent analyst reports. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Zacks Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Jefferies Financial Group increased their price objective 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. DA Davidson cut shares of Installed Building Products from a “buy” rating to a “hold” rating and upped their target price for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company assumed coverage on shares of Installed Building Products in a research note on Monday, November 17th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $222.80.

Installed Building Products Trading Down 0.8%

Shares of IBP stock opened at $268.01 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.97 and a beta of 1.90. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00. The firm has a fifty day moving average price of $254.79 and a 200-day moving average price of $227.84.

Installed Building Products (NYSE:IBP) last released its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.49. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The company had revenue of $778.20 million for the quarter, compared to the consensus estimate of $751.98 million. During the same period in the previous year, the business earned $2.85 earnings per share. Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current 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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 annualized dividend and a yield of 0.6%. Installed Building Products’s payout ratio is currently 15.93%.

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.