Installed Building Products, Inc. (NYSE:IBP - Get Free Report) CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the transaction, the chief financial officer owned 34,209 shares of the company's stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Michael Thomas Miller also recently made the following trade(s):
- On Monday, May 11th, Michael Thomas Miller purchased 2,400 shares of Installed Building Products stock. The stock was acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00.
Installed Building Products Stock Performance
NYSE IBP opened at $208.84 on Tuesday. The company's 50 day moving average is $244.45 and its 200-day moving average is $274.01. Installed Building Products, Inc. has a 12-month low of $162.56 and a 12-month high of $349.00. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The firm has a market cap of $5.63 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 5.11 and a beta of 1.71.
Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period last year, the firm earned $2.08 EPS. The business's revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts predict that Installed Building Products, Inc. will post 9.62 earnings per share for the current year.
Installed Building Products Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 15th. Installed Building Products's dividend payout ratio is 16.63%.
Analyst Upgrades and Downgrades
IBP has been the topic of a number of analyst reports. Vertical Research raised shares of Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 target price on the stock in a report on Friday, February 27th. Wells Fargo & Company decreased their target price on shares of Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Evercore set a $226.00 target price on shares of Installed Building Products in a report on Friday, May 8th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $242.00 target price on shares of Installed Building Products in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $247.67.
Check Out Our Latest Stock Report on IBP
Hedge Funds Weigh In On Installed Building Products
A number of institutional investors have recently made changes to their positions in IBP. Price T Rowe Associates Inc. MD increased its holdings in shares of Installed Building Products by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company's stock worth $402,356,000 after buying an additional 328,725 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Installed Building Products by 2,169.2% in the 3rd quarter. TD Asset Management Inc now owns 271,938 shares of the construction company's stock worth $67,076,000 after buying an additional 259,954 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Installed Building Products by 4,659.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company's stock worth $30,996,000 after buying an additional 168,285 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Installed Building Products by 84.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company's stock worth $49,893,000 after buying an additional 126,435 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Installed Building Products in the 4th quarter worth $32,359,000. Institutional investors own 99.61% of the company's stock.
About Installed Building Products
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
