TD Waterhouse Canada Inc. lessened its position in shares of Installed Building Products, Inc. (NYSE:IBP – Free Report) by 96.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the construction company’s stock after selling 52,554 shares during the period. TD Waterhouse Canada Inc.’s holdings in Installed Building Products were worth $379,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Nykredit A S acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at $223,000. Grandeur Peak Global Advisors LLC grew its stake in shares of Installed Building Products by 48.6% during the second quarter. Grandeur Peak Global Advisors LLC now owns 12,180 shares of the construction company’s stock worth $2,799,000 after purchasing an additional 3,984 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new position in Installed Building Products in the second quarter valued at $242,000. Quantitative Investment Management LLC purchased a new position in Installed Building Products in the second quarter valued at $583,000. Finally, Benjamin Edwards Inc. raised its stake in Installed Building Products by 7.3% in the second quarter. Benjamin Edwards Inc. now owns 3,902 shares of the construction company’s stock valued at $898,000 after buying an additional 266 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, Director Janet Jackson sold 1,086 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.80% of the company’s stock.
Installed Building Products Trading Down 4.3%
Installed Building Products (NYSE:IBP – Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $743.33 million. During the same period in the prior year, the company earned $2.95 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Installed Building Products, Inc. will post 9.82 earnings per share for the current year.
Installed Building Products Dividend Announcement
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 paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products’s dividend payout ratio is currently 16.79%.
Analysts Set New Price Targets
A number of analysts have issued reports on IBP shares. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Evercore set a $246.00 target price on Installed Building Products in a research note on Friday, August 7th. Finally, DA Davidson raised their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $249.30.
Get Our Latest Research Report on Installed Building Products
Installed Building Products Company Profile
Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.
Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.
Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.
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