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

Joseph Group Capital Management grew its stake in Installed Building Products, Inc. (NYSE:IBP) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,439 shares of the construction company’s stock after purchasing an additional 1,608 shares during the quarter. Joseph Group Capital Management’s holdings in Installed Building Products were worth $3,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Installed Building Products by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock valued at $458,024,000 after buying an additional 34,512 shares during the period. Eminence Capital LP bought a new stake in Installed Building Products in the 1st quarter valued at $109,114,000. Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 11.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock worth $107,019,000 after purchasing an additional 63,315 shares during the period. Giverny Capital Inc. boosted its stake in Installed Building Products by 0.7% in the 1st quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company’s stock worth $87,114,000 after purchasing an additional 3,338 shares during the period. Finally, Timucuan Asset Management Inc. FL bought a new position in Installed Building Products during the 1st quarter worth about $85,786,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Trading Up 2.1%

Shares of NYSE:IBP opened at $257.32 on Monday. The stock has a market cap of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. The business has a 50 day moving average of $256.12 and a 200-day moving average of $216.21.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, beating the consensus estimate of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.85 earnings per share. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 annualized dividend and a yield of 0.6%. Installed Building Products’s payout ratio is currently 15.93%.

Insider Transactions at Installed Building Products

In other news, Director Janet E. Jackson sold 1,469 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,155 shares of company stock valued at $2,994,943. 16.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IBP. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Loop Capital cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a research note on Friday, August 8th. DA Davidson cut shares of Installed Building Products from a “buy” rating to a “hold” rating and upped their target price for the company from $225.00 to $252.00 in a report on Tuesday, August 12th. Finally, Vertical Research assumed coverage on Installed Building Products in a report on Monday, October 20th. They set a “sell” rating for the company. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $224.45.

About Installed Building Products

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.