Joseph Group Capital Management Has $3.51 Million Stock Position in Installed Building Products, Inc. $IBP

Joseph Group Capital Management increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,439 shares of the construction company’s stock after purchasing an additional 1,608 shares during the quarter. Joseph Group Capital Management owned approximately 0.07% of Installed Building Products worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in Installed Building Products during the 1st quarter valued at about $600,000. Envestnet Asset Management Inc. raised its stake in shares of Installed Building Products by 13.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 105,729 shares of the construction company’s stock worth $18,128,000 after purchasing an additional 12,126 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Installed Building Products by 27.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company’s stock valued at $379,000 after buying an additional 473 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Installed Building Products by 1.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock valued at $716,000 after buying an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Installed Building Products by 57.9% during the first quarter. Nisa Investment Advisors LLC now owns 5,640 shares of the construction company’s stock valued at $967,000 after acquiring an additional 2,068 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was 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. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $266.00, for a total value of $390,754.00. Following the completion of the transaction, the director directly owned 6,873 shares of the company’s stock, valued at $1,828,218. This represents a 17.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,155 shares of company stock valued at $2,994,943. 16.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBP has been the subject of several recent research reports. Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Vertical Research started coverage on Installed Building Products in a research note on Monday, October 20th. They set a “sell” rating for the company. Danske downgraded Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price objective on the stock. in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $224.45.

Installed Building Products Stock Up 2.1%

NYSE IBP opened at $257.32 on Monday. The firm has a 50-day simple moving average of $256.12 and a 200 day simple moving average of $216.21. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The stock has a market cap of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm had revenue of $778.20 million for the quarter, compared to the consensus estimate of $751.98 million. During the same quarter in the previous year, the company earned $2.85 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS 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 given a $0.37 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s payout ratio is 15.93%.

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.