Wellington Management Group LLP Grows Stock Position in Installed Building Products, Inc. $IBP

Wellington Management Group LLP raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,249 shares of the construction company’s stock after buying an additional 2,775 shares during the quarter. Wellington Management Group LLP owned approximately 0.12% of Installed Building Products worth $7,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of Installed Building Products during the 2nd quarter worth about $544,000. Grandeur Peak Global Advisors LLC purchased a new stake in Installed Building Products in the second quarter valued at approximately $2,799,000. Public Employees Retirement System of Ohio purchased a new stake in Installed Building Products in the second quarter valued at approximately $52,000. Corient Private Wealth LP acquired a new position in Installed Building Products during the second quarter worth approximately $1,174,000. Finally, Bamco Inc. NY acquired a new position in Installed Building Products during the second quarter worth approximately $45,580,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insiders Place Their Bets

In other Installed Building Products news, CFO Michael Miller purchased 990 shares of Installed Building Products stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.80% of the stock is currently owned by company insiders.

Installed Building Products Trading Down 4.5%

Shares of IBP stock opened at $227.88 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. Installed Building Products, Inc. has a fifty-two week low of $193.11 and a fifty-two week high of $349.00. The firm’s 50 day moving average price is $234.21 and its two-hundred day moving average price is $249.33. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 4.47 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same quarter in the previous year, the business posted $2.95 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio is 16.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IBP shares. Evercore set a $246.00 price target on shares of Installed Building Products in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, DA Davidson boosted their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average target price of $249.30.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.