Jeffrey W. Edwards Sells 35,000 Shares of Installed Building Products Inc (IBP) Stock

Installed Building Products Inc (NYSE:IBP) CEO Jeffrey W. Edwards sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $64.70, for a total value of $2,264,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of Installed Building Products traded up $0.35, reaching $62.00, during trading on Thursday, MarketBeat.com reports. The company’s stock had a trading volume of 178,400 shares, compared to its average volume of 253,027. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.13 and a quick ratio of 1.83. Installed Building Products Inc has a 12-month low of $50.95 and a 12-month high of $79.40. The company has a market cap of $2.03 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. Installed Building Products had a return on equity of 19.09% and a net margin of 3.49%. The firm had revenue of $301.72 million for the quarter, compared to the consensus estimate of $297.14 million. During the same period in the previous year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. equities research analysts anticipate that Installed Building Products Inc will post 2.88 EPS for the current fiscal year.

Installed Building Products announced that its board has authorized a share buyback plan on Wednesday, February 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

IBP has been the topic of a number of recent research reports. Zelman & Associates raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Stephens set a $71.00 target price on Installed Building Products and gave the company a “buy” rating in a report on Thursday, March 1st. ValuEngine lowered Installed Building Products from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Royal Bank of Canada set a $71.00 target price on Installed Building Products and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.33.

Several institutional investors have recently bought and sold shares of IBP. Westwood Holdings Group Inc. purchased a new stake in shares of Installed Building Products in the first quarter valued at approximately $46,340,000. Bamco Inc. NY boosted its position in Installed Building Products by 166.7% during the first quarter. Bamco Inc. NY now owns 800,000 shares of the construction company’s stock worth $48,040,000 after purchasing an additional 500,000 shares in the last quarter. GW&K Investment Management LLC boosted its position in Installed Building Products by 74.7% during the first quarter. GW&K Investment Management LLC now owns 485,949 shares of the construction company’s stock worth $29,181,000 after purchasing an additional 207,818 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Installed Building Products by 27.5% during the first quarter. Neuberger Berman Group LLC now owns 707,005 shares of the construction company’s stock worth $42,456,000 after purchasing an additional 152,405 shares in the last quarter. Finally, Thames Capital Management LLC purchased a new stake in Installed Building Products during the fourth quarter worth $6,969,000. Hedge funds and other institutional investors own 69.46% 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, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

Insider Buying and Selling by Quarter for Installed Building Products (NYSE:IBP)

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