Royce & Associates LP Sells 108,333 Shares of Installed Building Products, Inc. $IBP

Key Points

• Royce & Associates LP reduced its stake in Installed Building Products by 41.3% in the fourth quarter, selling 108,333 shares and leaving it with 154,000 shares valued at about $39.9 million.
• Installed Building Products reported weaker-than-expected quarterly results, with EPS of $1.79 versus estimates of $1.96 and revenue of $660.5 million versus $668.9 million expected. Revenue also fell 3.5% from a year earlier.
• The company declared a quarterly dividend of $0.39 per share, payable June 30, while Wall Street sentiment remains cautious with a consensus rating of “Reduce” and an average price target of $247.67.

Royce & Associates LP cut its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 41.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,000 shares of the construction company's stock after selling 108,333 shares during the quarter. Royce & Associates LP owned about 0.57% of Installed Building Products worth $39,946,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBP. Bessemer Group Inc. increased its stake in shares of Installed Building Products by 21.4% in the 4th quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company's stock worth $31,973,000 after acquiring an additional 21,705 shares in the last quarter. Watchtower Advisors LP increased its stake in shares of Installed Building Products by 30.4% in the 3rd quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company's stock worth $7,961,000 after acquiring an additional 7,534 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Installed Building Products by 16.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company's stock worth $32,522,000 after acquiring an additional 18,487 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Installed Building Products by 7.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 128,911 shares of the construction company's stock worth $33,438,000 after acquiring an additional 9,080 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Installed Building Products by 107.3% in the 4th quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company's stock worth $2,393,000 after acquiring an additional 4,777 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Stock Down 0.1%

NYSE:IBP opened at $214.05 on Tuesday. The firm has a market cap of $5.77 billion, a P/E ratio of 22.82, a P/E/G ratio of 5.29 and a beta of 1.84. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. Installed Building Products, Inc. has a fifty-two week low of $152.18 and a fifty-two week high of $349.00. The firm has a 50-day simple moving average of $264.10 and a two-hundred day simple moving average of $279.18.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.96 by ($0.17). The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. Analysts predict that Installed Building Products, Inc. will post 9.62 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.63%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research reports. The Goldman Sachs Group decreased their price target on shares of Installed Building Products from $331.00 to $285.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Vertical Research upgraded shares of Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 price target for the company in a research note on Friday, February 27th. Weiss Ratings lowered shares of Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday. DA Davidson decreased their price target on shares of Installed Building Products from $270.00 to $242.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Finally, Truist Financial decreased their price target on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $247.67.

Insider Buying and Selling at Installed Building Products

In other news, CFO Michael Thomas Miller acquired 2,400 shares of Installed Building Products stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the purchase, the chief financial officer owned 33,219 shares in the company, valued at $6,903,572.58. This trade represents a 7.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence A. Hilsheimer acquired 475 shares of Installed Building Products stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $206.22 per share, with a total value of $97,954.50. Following the completion of the purchase, the director owned 28,468 shares in the company, valued at $5,870,670.96. This represents a 1.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 4,046 shares of company stock worth $844,194 in the last 90 days. Insiders own 13.80% of the company's stock.

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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