Installed Building Products (NYSE:IBP) CEO Jeffrey Edwards Sells 400,000 Shares of Stock

Installed Building Products, Inc. (NYSE:IBP) CEO Jeffrey Edwards sold 400,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the completion of the transaction, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at approximately $542,638,835.14. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Installed Building Products Stock Up 0.5%

IBP opened at $327.48 on Thursday. The company has a fifty day moving average of $304.33 and a two-hundred day moving average of $275.57. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 7.59 and a beta of 1.90. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. The firm had revenue of $747.50 million for the quarter, compared to analysts’ expectations of $738.97 million. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $2.88 EPS. On average, research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a yield of 56.0%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.21%.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after acquiring an additional 486 shares during the last quarter. United Services Automobile Association purchased a new position in Installed Building Products during the first quarter worth about $263,000. Jane Street Group LLC raised its stake in Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after purchasing an additional 12,545 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Installed Building Products by 7.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 113,363 shares of the construction company’s stock valued at $20,442,000 after purchasing an additional 7,634 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Installed Building Products by 2.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company’s stock valued at $643,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBP. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $245.00 target price on shares of Installed Building Products in a research report on Tuesday, January 13th. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada boosted their price objective on Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Jefferies Financial Group increased their target price on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. Finally, Vertical Research raised Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $256.09.

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.