Key Points
- Director Janet Jackson sold 1,410 shares of Installed Building Products at an average price of $293.31 on March 9, raising $413,567 and reducing her stake to 5,373 shares (a 20.79% drop in her ownership).
- The company declared a $1.80 special dividend payable March 31 with an ex-dividend/record date of March 13, which the report cites as representing a 56.0% yield.
- Installed Building Products reported stronger-than-expected quarterly results—EPS $3.24 vs. $2.83 estimate and revenue $747.5M vs. $739.0M estimate—while analyst sentiment remains mixed with a consensus target of $256.09 and an average rating of "Reduce."
Installed Building Products, Inc. (NYSE:IBP - Get Free Report) Director Janet Jackson sold 1,410 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. This represents a 20.79% 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 link.
Installed Building Products Price Performance
IBP traded down $13.53 on Thursday, hitting $277.02. 10,847 shares of the company's stock traded hands, compared to its average volume of 345,300. The company's 50 day simple moving average is $307.67 and its 200-day simple moving average is $276.65. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $349.00. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 4.08 and a beta of 1.90.
Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.41. The business had revenue of $747.50 million during the quarter, compared to the consensus estimate of $738.97 million. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 EPS. As a group, research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS 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. Shareholders of record on Friday, March 13th will be paid a $1.80 dividend. The ex-dividend date is Friday, March 13th. This represents a yield of 56.0%. Installed Building Products's payout ratio is presently 15.21%.
Analyst Ratings Changes
IBP has been the topic of several research reports. Wells Fargo & Company reduced their target price on Installed Building Products from $355.00 to $340.00 and set an "equal weight" rating on the stock in a report on Friday, February 27th. Weiss Ratings raised Installed Building Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Royal Bank Of Canada increased 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. Zacks Research cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Finally, Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $256.09.
Read Our Latest Report on IBP
Institutional Trading of Installed Building Products
A number of large investors have recently made changes to their positions in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock worth $2,423,000 after buying an additional 486 shares during the period. United Services Automobile Association bought a new position in Installed Building Products in the 1st quarter worth about $263,000. Jane Street Group LLC increased its position in shares of 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 acquiring an additional 12,545 shares during the period. Atria Investments Inc purchased a new position in shares of Installed Building Products during the second quarter worth approximately $224,000. Finally, Bank of Montreal Can raised its stake in shares of Installed Building Products by 4.0% during the second quarter. Bank of Montreal Can now owns 5,552 shares of the construction company's stock valued at $1,001,000 after acquiring an additional 214 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.
Installed Building Products Company Profile
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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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