Key Points
- Director Michael Thomas sold 2,001 shares on Nov. 26 at an average price of $268.28 for about $536,828, leaving him with 8,373 shares—a 19.29% drop in his ownership.
- Installed Building Products beat Q3 estimates with EPS of $3.18 (vs. $2.69) and revenue of $778.2M, recently declared a quarterly dividend of $0.37 (0.6% yield), but analysts have a consensus rating of "Reduce" with an average target of $222.80 while the stock trades around $266.
Installed Building Products, Inc. (NYSE:IBP - Get Free Report) Director Michael Thomas sold 2,001 shares of the company's stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the sale, the director owned 8,373 shares in the company, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Installed Building Products Price Performance
Shares of Installed Building Products stock opened at $266.08 on Tuesday. The stock 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 debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The stock has a 50 day moving average price of $254.00 and a 200-day moving average price of $226.58. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $280.00.
Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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% on a year-over-year basis. During the same period last year, the company earned $2.85 earnings per share. Equities analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.
Installed Building Products Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products's payout ratio is currently 15.93%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Danske Bank A S purchased a new stake in shares of Installed Building Products in the 3rd quarter worth $25,000. NewEdge Advisors LLC increased its stake in shares of Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock valued at $25,000 after buying an additional 100 shares during the period. Curio Wealth LLC raised its holdings in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company's stock valued at $30,000 after acquiring an additional 168 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Installed Building Products in the third quarter worth about $33,000. Finally, SRH Advisors LLC lifted its stake in Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock worth $37,000 after acquiring an additional 85 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on IBP shares. Evercore ISI set a $265.00 price objective on shares of Installed Building Products in a research report on Thursday, November 6th. Wells Fargo & Company started coverage on Installed Building Products in a research note on Monday, November 17th. They set an "equal weight" rating on the stock. Vertical Research began coverage on Installed Building Products in a research note on Monday, October 20th. They set a "sell" rating for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Installed Building Products in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $222.80.
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About Installed Building Products
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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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