LPL Financial LLC Boosts Holdings in Installed Building Products, Inc. (NYSE:IBP)

LPL Financial LLC boosted its position in Installed Building Products, Inc. (NYSE:IBP) by 16.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,772 shares of the construction company’s stock after purchasing an additional 3,368 shares during the quarter. LPL Financial LLC’s holdings in Installed Building Products were worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IBP. UMB Bank n.a. lifted its stake in Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Fifth Third Bancorp lifted its stake 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 purchasing an additional 97 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Installed Building Products in the 4th quarter worth approximately $90,000. Finally, CWM LLC lifted its stake in Installed Building Products by 178.7% in the 1st quarter. CWM LLC now owns 588 shares of the construction company’s stock worth $101,000 after purchasing an additional 377 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IBP shares. DA Davidson cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating and increased their target price for the stock from $225.00 to $252.00 in a research note on Tuesday. Jefferies Financial Group reissued a “hold” rating and issued a $225.00 price target (up previously from $175.00) on shares of Installed Building Products in a report on Tuesday. Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Loop Capital lowered 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. Finally, Royal Bank Of Canada reissued an “underperform” rating and issued a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $217.36.

Installed Building Products Price Performance

IBP stock opened at $266.56 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $275.76. The firm’s fifty day moving average is $197.50 and its 200 day moving average is $179.83. The firm has a market cap of $7.29 billion, a P/E ratio of 29.65 and a beta of 1.73.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. During the same quarter last year, the firm earned $2.84 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

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

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the transaction, the chief accounting officer owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.20% of the company’s stock.

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.