Installed Building Products, Inc. $IBP Shares Acquired by Timucuan Asset Management Inc. FL

Timucuan Asset Management Inc. FL increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 73.2% in Q2, owning 866,577 shares worth $156.26 million. This makes IBP 4.6% of Timucuan's portfolio. Other institutional investors also increased their positions. IBP's stock opened at $266.08, with a 12-month high of $280.00. The company reported Q3 earnings of $3.18 per share, beating estimates, with revenue up 2.3% year-over-year. A quarterly dividend of $0.37 per share was announced, payable on December 31st.

Timucuan Asset Management Inc. FL increased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 73.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 866,577 shares of the construction company's stock after acquiring an additional 366,250 shares during the quarter. Installed Building Products makes up about 4.6% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 12th biggest holding. Timucuan Asset Management Inc. FL owned approximately 3.17% of Installed Building Products worth $156,261,000 at the end of the most recent reporting period.

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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC raised its stake in Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company's stock worth $30,000 after purchasing an additional 168 shares during the period. SRH Advisors LLC grew its stake in shares of Installed Building Products by 70.8% in the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock valued at $37,000 after buying an additional 85 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 36.7% during the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after buying an additional 149 shares during the last quarter. Covestor Ltd raised its position in shares of Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after buying an additional 267 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in Installed Building Products in the second quarter valued at approximately $184,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

IBP opened at $266.08 on Tuesday. The stock's 50-day moving average price is $254.00 and its 200 day moving average price is $226.58. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $280.00. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 29.60 and a beta of 1.81. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27.

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Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.49. The company had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 EPS. As a group, sell-side analysts expect 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 Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. Installed Building Products's dividend payout ratio is presently 15.93%.

Insider Buying and Selling

In other Installed Building Products news, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the sale, the director directly owned 8,373 shares in the company, valued at $2,246,308.44. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Jeffrey Hire sold 5,000 shares of the business's stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the transaction, the insider owned 32,999 shares of the company's stock, valued at approximately $8,303,538.37. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IBP has been the subject of several recent analyst reports. Wall Street Zen raised Installed Building Products from a "hold" rating to a "buy" rating in a research note on Monday, November 10th. DA Davidson cut Installed Building Products from a "buy" rating to a "hold" rating and increased their price target for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. Zacks Research upgraded shares of Installed Building Products from a "hold" rating to a "strong-buy" rating in a report on Friday. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Finally, Evercore ISI set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $222.80.

Check Out Our Latest Stock Analysis on Installed Building Products

Installed Building Products Profile

(Free Report)

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.

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