Pier Capital LLC Sells 28,467 Shares of Installed Building Products, Inc. $IBP

Key Points

• Pier Capital LLC sold 28,467 shares of Installed Building Products in the 3rd quarter, cutting its stake by 51.5% to 26,778 shares worth about $6.605 million.
• CEO Jeffrey W. Edwards executed a large insider sale—400,000 shares on March 3 for roughly $125.6 million, an 18.8% reduction in his position (insiders now own 16.20% of the company).
• Installed Building Products announced a special $1.80 dividend payable March 31 (record March 13) — stated yield 66.0% — while analysts hold a consensus "Reduce" rating with a $256.09 price target.

Pier Capital LLC decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 51.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,778 shares of the construction company's stock after selling 28,467 shares during the quarter. Pier Capital LLC owned about 0.10% of Installed Building Products worth $6,605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Timucuan Asset Management Inc. FL lifted its holdings in Installed Building Products by 73.2% in 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 buying an additional 366,250 shares during the period. Eminence Capital LP grew its holdings in Installed Building Products by 48.5% during the 2nd quarter. Eminence Capital LP now owns 945,101 shares of the construction company's stock worth $170,421,000 after acquiring an additional 308,717 shares during the period. TD Asset Management Inc raised its position in shares of Installed Building Products by 2,169.2% during the 3rd quarter. TD Asset Management Inc now owns 271,938 shares of the construction company's stock valued at $67,076,000 after acquiring an additional 259,954 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of Installed Building Products by 4,659.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company's stock valued at $30,996,000 after acquiring an additional 168,285 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake 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 valued at $49,893,000 after purchasing an additional 126,435 shares during the period. 99.61% of the stock is owned by institutional investors.

Installed Building Products Trading Down 3.2%

IBP opened at $272.35 on Friday. The firm's fifty day moving average is $307.94 and its two-hundred day moving average is $276.62. The firm has a market cap of $7.35 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 3.95 and a beta of 1.90. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $349.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly 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. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The company had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. The firm's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 EPS. Equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid 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 payout ratio is presently 15.21%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IBP shares. Benchmark lowered Installed Building Products from a "buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Wells Fargo & Company cut their target price on 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. JPMorgan Chase & Co. restated an "underweight" rating and set a $245.00 target price on shares of Installed Building Products in a report on Tuesday, January 13th. Finally, Vertical Research upgraded Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 target price for the company in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $256.09.

Insider Activity

In other news, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction dated Monday, March 9th. The shares were 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 in the company, valued at $1,575,954.63. This trade represents a 20.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by corporate insiders.

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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