Capital World Investors Lowers Stake in Installed Building Products, Inc. $IBP

Key Points

• Capital World Investors cut its stake in Installed Building Products (NYSE: IBP) by 24.1% in Q3, holding 252,484 shares (about 0.93% of the company) worth $62.28 million, while institutional investors own 99.61% of the stock.
• CEO Jeffrey W. Edwards sold 400,000 shares for roughly $125.6 million (an 18.8% reduction in his holdings); insiders still hold about 16.20% of the company.
• Installed Building Products beat Q results (EPS $3.24 vs. $2.83) and announced a special dividend of $1.80 payable March 31 (record Mar 13), but analysts maintain a consensus "Reduce" rating with a $256.09 target price.

Capital World Investors lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,484 shares of the construction company's stock after selling 80,009 shares during the period. Capital World Investors owned approximately 0.93% of Installed Building Products worth $62,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Apollon Wealth Management LLC purchased a new position in Installed Building Products during the third quarter valued at $481,000. Bayforest Capital Ltd grew its stake 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 worth $704,000 after acquiring an additional 1,834 shares during the last quarter. Blalock Williams LLC purchased a new stake in shares of Installed Building Products in the third quarter worth $792,000. Envestnet Asset Management Inc. increased its holdings in shares of Installed Building Products by 16.3% during 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 in the last quarter. Finally, Timucuan Asset Management Inc. FL increased its holdings in shares of Installed Building Products by 73.2% during the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company's stock valued at $156,261,000 after acquiring an additional 366,250 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 400,000 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Janet E. Jackson sold 1,410 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director directly owned 5,373 shares in the company, valued at $1,575,954.63. This trade represents a 20.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on IBP. Zacks Research cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Royal Bank Of Canada raised their price objective on shares of Installed Building Products from $203.00 to $255.00 and gave the company an "underperform" rating in a research note on Friday, February 27th. Weiss Ratings raised shares of Installed Building Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Wells Fargo & Company dropped their target price on shares of Installed Building Products from $355.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group increased their price target on shares of Installed Building Products from $230.00 to $259.00 and gave the company a "hold" rating in a report on Monday, December 15th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $256.09.

Installed Building Products Stock Performance

Shares of NYSE IBP opened at $272.35 on Friday. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $349.00. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 3.95 and a beta of 1.90. 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 firm has a 50 day moving average of $307.94 and a 200 day moving average of $276.62.

Installed Building Products (NYSE:IBP - Get Free Report) last released 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. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The business had revenue of $747.50 million for the quarter, compared to the consensus estimate of $738.97 million. During the same period last year, the firm earned $2.88 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. On average, research 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 announced a special dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $1.80 dividend. This represents a yield of 66.0%. The ex-dividend date of this dividend is Friday, March 13th. Installed Building Products's dividend payout ratio (DPR) is currently 15.21%.

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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