Wellington Management Group LLP lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,249 shares of the construction company’s stock after purchasing an additional 2,775 shares during the quarter. Wellington Management Group LLP’s holdings in Installed Building Products were worth $7,182,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Installed Building Products in the third quarter worth $25,000. NewEdge Advisors LLC increased its holdings in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Installed Building Products in the 1st quarter worth about $30,000. Keating Financial Advisory Services Inc. bought a new stake in Installed Building Products in the 2nd quarter valued at about $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.
Insider Transactions at Installed Building Products
In other news, Director Janet E. Jackson sold 1,086 shares of Installed Building Products stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Miller acquired 990 shares of Installed Building Products stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 13.80% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Read Our Latest Stock Report on IBP
Installed Building Products Trading Down 4.5%
Shares of Installed Building Products 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. The business has a fifty day simple moving average of $234.21 and a 200-day simple moving average of $249.33. Installed Building Products, Inc. has a fifty-two week low of $193.11 and a fifty-two week high of $349.00. The firm 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 – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter last year, the firm posted $2.95 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.
Installed Building Products Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.
Installed Building Products Company 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.
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