Comerica Bank Sells 3,912 Shares of Installed Building Products, Inc. $IBP

Key Points

• Comerica Bank cut its stake in Installed Building Products by 27.9% in the fourth quarter, selling 3,912 shares and leaving 10,091 shares worth $2.62 million.
• CEO Jeffrey W. Edwards executed a large insider sale of 400,000 shares on March 3 at an average price of $314.06, netting about $125.6 million and reducing his holding by 18.8%.
• Installed Building Products beat quarterly estimates with $3.24 EPS (vs. $2.83 expected) and $747.5M revenue, and paid a special $1.80 dividend on March 31 (reported yield of 63.0%).

Comerica Bank lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 27.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,091 shares of the construction company's stock after selling 3,912 shares during the quarter. Comerica Bank's holdings in Installed Building Products were worth $2,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IBP. Danske Bank A S bought a new position in shares of 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 buying an additional 100 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Installed Building Products during the 3rd quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock worth $37,000 after buying an additional 133 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Installed Building Products during the 3rd quarter worth approximately $42,000. Institutional investors own 99.61% of the company's stock.

Installed Building Products Trading Down 4.6%

NYSE:IBP opened at $276.95 on Tuesday. 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 capitalization of $7.46 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.84. The firm's 50 day moving average is $290.49 and its 200 day moving average is $282.96. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, topping 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 was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. Sell-side analysts expect that Installed Building Products, Inc. will post 10.81 earnings per share for the current year.

Installed Building Products Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products 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 sale, the chief executive officer owned 1,727,819 shares of the company's stock, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the sale, 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. The SEC filing for this sale provides additional information. Insiders own 13.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on IBP. DA Davidson lifted their target price on shares of Installed Building Products from $252.00 to $270.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 18th. Royal Bank Of Canada lifted their target price on shares of Installed Building Products from $203.00 to $255.00 and gave the stock an "underperform" rating in a research report on Friday, February 27th. 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 research report on Friday, February 27th. Wells Fargo & Company dropped their target price on shares of Installed Building Products from $340.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $245.00 price target on shares of Installed Building Products in a report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products has a consensus rating of "Reduce" and an average target price of $259.70.

Installed Building Products Company Profile

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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