Installed Building Products, Inc. $IBP Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 96.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,689 shares of the construction company’s stock after selling 52,554 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Installed Building Products were worth $379,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IBP. BlackRock Inc. purchased a new stake in shares of Installed Building Products in the second quarter valued at about $1,055,034,000. Price T Rowe Associates Inc. MD raised its holdings in Installed Building Products by 26.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after purchasing an additional 328,725 shares in the last quarter. Giverny Capital Inc. lifted its position in Installed Building Products by 0.9% in the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after purchasing an additional 4,500 shares during the period. First Trust Advisors LP boosted its holdings in Installed Building Products by 0.3% in the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock valued at $103,950,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Installed Building Products by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after purchasing an additional 122,561 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $201.51 on Friday. The firm has a market capitalization of $5.36 billion, a PE ratio of 21.69, a P/E/G ratio of 3.95 and a beta of 1.71. Installed Building Products, Inc. has a 52 week low of $193.11 and a 52 week high of $349.00. The firm’s 50-day simple moving average is $233.42 and its 200 day simple moving average is $247.69. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last posted its earnings results 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. The firm had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. On average, equities research analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s payout ratio is currently 16.79%.

Analysts Set New Price Targets

Several research firms have issued reports on IBP. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Evercore set a $246.00 price objective on Installed Building Products in a research report on Friday, August 7th. Finally, DA Davidson raised their target price on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Installed Building Products has an average rating of “Hold” and an average price target of $249.30.

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is owned by corporate insiders.

About Installed Building Products

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.