Swedbank AB Cuts Position in Installed Building Products, Inc. $IBP

Key Points

• Swedbank AB trimmed its stake in Installed Building Products (NYSE: IBP) by 12.9% in Q4, selling 19,000 shares and ending the period with 128,000 shares worth about $33.2 million.
• CEO Jeffrey W. Edwards sold 400,000 shares on March 3 at an average price of $314.06, a $125.6 million transaction that reduced his ownership by roughly 18.8%.
• IBP missed quarterly expectations, reporting $1.79 EPS versus a $1.96 consensus and $660.5M in revenue (down 3.5% YoY), and the company announced a $0.39 quarterly dividend (0.7% yield).

Swedbank AB trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,000 shares of the construction company's stock after selling 19,000 shares during the quarter. Swedbank AB owned approximately 0.47% of Installed Building Products worth $33,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Pittenger & Anderson Inc. raised its holdings in shares of Installed Building Products by 41.7% in the 4th quarter. Pittenger & Anderson Inc. now owns 2,480 shares of the construction company's stock valued at $643,000 after purchasing an additional 730 shares in the last quarter. Blalock Williams LLC raised its holdings in shares of Installed Building Products by 16.7% in the 4th quarter. Blalock Williams LLC now owns 3,749 shares of the construction company's stock valued at $972,000 after purchasing an additional 537 shares in the last quarter. Jennison Associates LLC boosted its holdings in Installed Building Products by 31.6% in the fourth quarter. Jennison Associates LLC now owns 3,105 shares of the construction company's stock valued at $805,000 after purchasing an additional 746 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Installed Building Products by 5.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 8,710 shares of the construction company's stock valued at $2,259,000 after purchasing an additional 480 shares in the last quarter. Finally, Joseph Group Capital Management boosted its holdings in Installed Building Products by 14.2% in the fourth quarter. Joseph Group Capital Management now owns 17,633 shares of the construction company's stock valued at $4,574,000 after purchasing an additional 2,191 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

IBP stock opened at $217.50 on Friday. The company has a market capitalization of $5.86 billion, a P/E ratio of 22.35, a PEG ratio of 4.15 and a beta of 1.84. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $349.00. The business has a 50 day simple moving average of $287.19 and a 200-day simple moving average of $283.19. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $668.92 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 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 earnings per share. As a group, equities analysts anticipate that Installed Building Products, Inc. will post 10.81 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products's dividend payout ratio (DPR) is currently 16.03%.

Insider Buying and Selling at Installed Building Products

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 1,727,819 shares of the company's stock, valued at $542,638,835.14. This trade represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet E. Jackson sold 1,410 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the sale, the director directly owned 5,373 shares of the company's stock, valued at approximately $1,575,954.63. This represents a 20.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 13.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IBP shares. Vertical Research raised Installed Building Products from a "sell" rating to a "hold" rating and set a $326.00 price target for the company in a report on Friday, February 27th. Royal Bank Of Canada raised Installed Building Products from an "underperform" rating to a "sector perform" rating and set a $228.00 price target for the company in a report on Friday. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Weiss Ratings raised Installed Building Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. 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, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $257.00.

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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