Key Points
- CEO Jeffrey Edwards sold 400,000 shares at an average price of $314.06 for roughly $125.6 million, trimming his holdings by 18.8% to 1,727,819 shares (worth about $542.6 million).
- Installed Building Products declared a special dividend of $1.80 per share, payable March 31 to holders of record March 13 (ex-dividend March 13), which the article states implies a 56.0% yield.
- The company beat recent quarterly estimates with EPS of $3.24 versus $2.83 expected and revenue of $747.5 million versus $739.0 million expected, while carrying a market cap of about $8.84 billion and a P/E around 33.7.
Installed Building Products, Inc. (NYSE:IBP - Get Free Report) CEO Jeffrey Edwards sold 400,000 shares of Installed Building Products stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the sale, the chief executive officer owned 1,727,819 shares in the company, valued at $542,638,835.14. This represents a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Installed Building Products Stock Performance
NYSE IBP opened at $327.48 on Thursday. The stock has a fifty day simple moving average of $304.33 and a 200-day simple moving average of $275.57. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.84 billion, a PE ratio of 33.66, a P/E/G ratio of 7.59 and a beta of 1.90. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $349.00.
Installed Building Products (NYSE:IBP - Get Free Report) 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 company had revenue of $747.50 million for the quarter, compared to analysts' expectations of $738.97 million. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. Installed Building Products's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 earnings per share. Equities analysts anticipate 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 disclosed a special dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a dividend yield of 56.0%. Installed Building Products's dividend payout ratio (DPR) is presently 15.21%.
Institutional Trading of Installed Building Products
Several hedge funds have recently added to or reduced their stakes in IBP. Danske Bank A S acquired a new position in Installed Building Products during the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC lifted its position in shares of Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Installed Building Products during the third quarter worth $33,000. Northwestern Mutual Wealth Management Co. increased its holdings in Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock valued at $37,000 after buying an additional 133 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Installed Building Products in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 99.61% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Vertical Research upgraded Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 price target for the company in a research report on Friday, February 27th. Wall Street Zen lowered Installed Building Products from a "buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada lifted their target price on Installed Building Products from $203.00 to $255.00 and gave the company an "underperform" rating in a research report on Friday, February 27th. Weiss Ratings upgraded shares of Installed Building Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Finally, Zacks Research lowered shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $256.09.
Read Our Latest Analysis on IBP
Installed Building Products Company Profile
(
Get Free Report)
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.
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