JPMorgan Chase & Co. Purchases 29,056 Shares of Installed Building Products, Inc. $IBP

Key Points

• JPMorgan Chase & Co. boosted its stake in Installed Building Products by 92.8%, purchasing 29,056 shares to hold 60,361 shares (about 0.22% of the company) valued at roughly $14.89 million.
• CEO Jeffrey W. Edwards sold 400,000 shares on March 3rd for about $125.62 million (average $314.06), an 18.8% reduction in his holding; insiders still own 16.20% of the stock.
• Installed Building Products declared a special dividend of $1.80 per share payable March 31 to shareholders of record March 13, which the report cites as a 63.0% yield.

JPMorgan Chase & Co. boosted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 92.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,361 shares of the construction company's stock after purchasing an additional 29,056 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Installed Building Products worth $14,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Verdence Capital Advisors LLC lifted its position in Installed Building Products by 3.5% during the third quarter. Verdence Capital Advisors LLC now owns 1,265 shares of the construction company's stock valued at $343,000 after purchasing an additional 43 shares in the last quarter. Amalgamated Bank boosted its position in shares of Installed Building Products by 0.8% during the third quarter. Amalgamated Bank now owns 6,589 shares of the construction company's stock worth $1,625,000 after acquiring an additional 50 shares during the last quarter. State of Wyoming boosted its holdings in shares of Installed Building Products by 5.1% during the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company's stock valued at $199,000 after purchasing an additional 53 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company's stock valued at $55,000 after buying an additional 54 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Installed Building Products by 14.0% in the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock valued at $78,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction on Monday, March 9th. The shares were 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 approximately $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the sale, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. This trade represents a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 16.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on IBP shares. Royal Bank Of Canada lifted their price target on Installed Building Products from $203.00 to $255.00 and gave the stock an "underperform" rating in a research report on Friday, February 27th. Weiss Ratings downgraded shares of Installed Building Products from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 20th. Benchmark cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Zacks Research downgraded shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Finally, DA Davidson raised their price target on Installed Building Products from $252.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $257.73.

Installed Building Products Stock Down 2.5%

Installed Building Products stock opened at $264.92 on Friday. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $349.00. The business has a fifty day moving average price of $305.12 and a 200-day moving average price of $277.07. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.82 and a beta of 1.90.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.41. The company had revenue of $747.50 million for the quarter, compared to analyst estimates 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 quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 EPS. Equities research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal 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 issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a dividend yield of 63.0%. Installed Building Products's dividend payout ratio (DPR) is currently 16.03%.

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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