Burgundy Asset Management Ltd. Makes New $13.88 Million Investment in Installed Building Products, Inc. $IBP

Burgundy Asset Management Ltd. bought a new stake in Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 76,975 shares of the construction company’s stock, valued at approximately $13,880,000. Burgundy Asset Management Ltd. owned about 0.28% of Installed Building Products as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Curio Wealth LLC raised its stake in Installed Building Products by 16,800.0% during the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after acquiring an additional 168 shares during the last quarter. SRH Advisors LLC increased its holdings in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after purchasing an additional 85 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after purchasing an additional 149 shares during the last quarter. Covestor Ltd raised its stake in shares of Installed Building Products by 92.1% during the first quarter. Covestor Ltd now owns 557 shares of the construction company’s stock worth $96,000 after purchasing an additional 267 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Installed Building Products by 24.8% during the first quarter. State of Wyoming now owns 1,048 shares of the construction company’s stock worth $180,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 0.0%

Shares of IBP opened at $268.25 on Friday. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $7.27 billion, a P/E ratio of 28.87, a PEG ratio of 4.93 and a beta of 1.90. The firm’s 50-day moving average is $255.17 and its two-hundred day moving average is $229.05.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping the consensus estimate of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.85 EPS. On average, research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced 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 dividend payout ratio is 15.93%.

Insiders Place Their Bets

In other news, insider William Jeffrey Hire sold 5,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the transaction, the insider owned 32,999 shares in the company, valued at $8,303,538.37. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the sale, the director owned 8,373 shares in the company, valued at $2,246,308.44. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on IBP shares. Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada increased their price target on shares of Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Vertical Research began coverage on Installed Building Products in a report on Monday, October 20th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $222.80.

Installed Building Products Company 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.