Calamos Advisors LLC Buys New Shares in Installed Building Products, Inc. $IBP

Key Points

• Calamos Advisors LLC purchased a new stake of 3,469 shares in Installed Building Products (NYSE: IBP) during the 4th quarter, valued at approximately $900,000.
• CEO Jeffrey W. Edwards sold 400,000 shares on March 3 for about $125.6 million (an 18.8% reduction in his position), and insiders now own roughly 16.20% of the company.
• Installed Building Products beat quarterly EPS expectations ($3.24 vs. $2.83), paid a special dividend of $1.80 on March 31, and analysts' consensus rating is Reduce with an average target price of $259.70.

Calamos Advisors LLC purchased a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,469 shares of the construction company's stock, valued at approximately $900,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $481,000. Bayforest Capital Ltd increased its position in shares of Installed Building Products by 180.0% in the third quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company's stock valued at $704,000 after acquiring an additional 1,834 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Installed Building Products by 16.3% in the third quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company's stock valued at $32,522,000 after acquiring an additional 18,487 shares during the last quarter. Blalock Williams LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $792,000. Finally, Watchtower Advisors LP raised its stake in shares of Installed Building Products by 30.4% during the 3rd quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company's stock worth $7,961,000 after purchasing an additional 7,534 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Installed Building Products

In other news, Director Janet E. Jackson sold 1,410 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the transaction, the director owned 5,373 shares of the company's stock, 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 can be accessed through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. The trade was a 18.80% decrease in their position. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by corporate insiders.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $298.32 on Tuesday. The business's 50 day moving average price is $292.83 and its two-hundred day moving average price is $282.03. The company has a market cap of $8.04 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 4.19 and a beta of 1.97. The company has a quick ratio of 2.44, a current ratio of 3.03 and a debt-to-equity ratio of 1.20. 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 the consensus estimate of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The company had revenue of $747.50 million for the quarter, compared to the consensus estimate of $738.97 million. During the same quarter in the prior year, the business earned $2.88 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Installed Building Products, Inc. will post 10.81 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a special dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a $1.80 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a dividend yield of 63.0%. Installed Building Products's dividend payout ratio is presently 16.03%.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent analyst reports. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $245.00 price objective on shares of Installed Building Products in a report on Tuesday, January 13th. Wells Fargo & Company cut their price objective on Installed Building Products from $340.00 to $285.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Benchmark downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada increased their price objective on Installed Building Products from $203.00 to $255.00 and gave the company an "underperform" rating in a report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of "Reduce" and an average target price of $259.70.

About Installed Building Products

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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