Fifth Third Bancorp Purchases 10,140 Shares of Installed Building Products, Inc. $IBP

Fifth Third Bancorp grew its position in Installed Building Products, Inc. (NYSE:IBP) by 5,602.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,321 shares of the construction company’s stock after buying an additional 10,140 shares during the period. Fifth Third Bancorp’s holdings in Installed Building Products were worth $2,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MGO One Seven LLC boosted its holdings in Installed Building Products by 3.1% in the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock valued at $294,000 after acquiring an additional 34 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in Installed Building Products by 2.6% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company’s stock worth $362,000 after purchasing an additional 35 shares during the period. Abel Hall LLC raised its holdings in Installed Building Products by 2.8% during the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after purchasing an additional 35 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Installed Building Products by 2.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock worth $472,000 after purchasing an additional 35 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in Installed Building Products by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock valued at $860,000 after purchasing an additional 35 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.8%

Shares of NYSE IBP opened at $224.48 on Tuesday. The stock has a market cap of $6.05 billion, a P/E ratio of 23.93, a P/E/G ratio of 5.48 and a beta of 1.69. The firm has a 50 day moving average price of $215.55 and a 200 day moving average price of $266.08. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a 52-week low of $184.75 and a 52-week high of $349.00.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. Analysts expect that Installed Building Products, Inc. will post 9.57 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.39 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio is currently 16.63%.

Insiders Place Their Bets

In other Installed Building Products news, CFO Michael Thomas Miller acquired 990 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $200.62 per share, with a total value of $198,613.80. Following the purchase, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This represents a 2.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence A. Hilsheimer bought 475 shares of Installed Building Products stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the completion of the acquisition, the director owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. This represents a 1.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 5,036 shares of company stock worth $1,042,807. 13.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore set a $226.00 price target on shares of Installed Building Products in a research report on Friday, May 8th. The Goldman Sachs Group dropped their target price on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a research note on Monday, May 11th. Stephens decreased their price objective on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their target price on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $247.67.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.