Boston Trust Walden Corp Acquires 36,212 Shares of Installed Building Products, Inc. $IBP

Boston Trust Walden Corp boosted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 14.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 294,468 shares of the construction company’s stock after buying an additional 36,212 shares during the period. Boston Trust Walden Corp’s holdings in Installed Building Products were worth $53,098,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after purchasing an additional 108 shares during the last quarter. SRH Advisors LLC increased its holdings in Installed Building Products by 70.8% in the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares in the last quarter. Fifth Third Bancorp increased its holdings in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock worth $39,000 after buying an additional 97 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after buying an additional 149 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock valued at $96,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 0.4%

Shares of IBP stock opened at $240.19 on Tuesday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 26.72 and a beta of 1.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The firm has a fifty day moving average price of $257.20 and a 200-day moving average price of $203.66. Installed Building Products, Inc. has a 1 year low of $150.83 and a 1 year high of $280.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same quarter in the previous year, the company posted $2.84 earnings per share. Installed Building Products’s revenue for the quarter was up 3.1% on a year-over-year basis. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. Installed Building Products’s dividend payout ratio is currently 16.46%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Loop Capital downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target on the stock. in a report on Friday, August 8th. Evercore ISI set a $240.00 price objective on shares of Installed Building Products in a research report on Tuesday, October 7th. DA Davidson lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and boosted their target price for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Jefferies Financial Group lifted their price objective on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $220.45.

Insider Activity

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares in the company, valued at $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of Installed Building Products stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider owned 37,999 shares in the company, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is owned by 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.