Meritage Portfolio Management Acquires 294 Shares of Installed Building Products, Inc. (NYSE:IBP)

Meritage Portfolio Management increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 5.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,580 shares of the construction company’s stock after purchasing an additional 294 shares during the quarter. Meritage Portfolio Management’s holdings in Installed Building Products were worth $1,020,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Annapolis Financial Services LLC increased its position in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Installed Building Products during the fourth quarter worth about $33,000. GAMMA Investing LLC acquired a new stake in Installed Building Products during the fourth quarter worth about $76,000. Asset Management One Co. Ltd. acquired a new stake in Installed Building Products during the fourth quarter worth about $121,000. Finally, CI Investments Inc. acquired a new stake in Installed Building Products during the third quarter worth about $141,000. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price target on shares of Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group restated a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Finally, Loop Capital upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Installed Building Products Trading Up 2.4 %

NYSE:IBP traded up $5.65 during mid-day trading on Friday, hitting $240.87. 94,993 shares of the company’s stock were exchanged, compared to its average volume of 257,107. The company has a 50 day simple moving average of $239.27 and a 200-day simple moving average of $187.88. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. Installed Building Products, Inc. has a fifty-two week low of $103.50 and a fifty-two week high of $263.76. The firm has a market capitalization of $6.85 billion, a P/E ratio of 27.95 and a beta of 1.89.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. The business had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.34 EPS. As a group, research analysts expect that Installed Building Products, Inc. will post 11.2 earnings per share for the current year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a $1.60 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s payout ratio is 16.26%.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,619 shares of company stock worth $1,606,732. Company insiders own 16.50% of the company’s stock.

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.