Swedbank AB Lowers Holdings in Installed Building Products, Inc. $IBP

Key Points

• Swedbank AB reduced its stake in Installed Building Products by 12.9% in the fourth quarter, selling 19,000 shares and ending with 128,000 shares valued at about $33.2 million.
• Insiders were buying shares: COO Brad A. Wheeler and insider Jason R. Niswonger both made purchases on May 11, and insiders have bought 4,046 shares worth $844,194 over the past three months.
• Analysts remain cautious after mixed results, with the stock carrying an average “Reduce” rating and a consensus target price of $247.67 after IBP missed quarterly EPS and revenue estimates.

Swedbank AB trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 128,000 shares of the construction company's stock after selling 19,000 shares during the period. Swedbank AB owned approximately 0.47% of Installed Building Products worth $33,202,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company's stock worth $2,423,000 after purchasing an additional 486 shares in the last quarter. United Services Automobile Association acquired a new position in Installed Building Products during the first quarter worth $263,000. Jane Street Group LLC lifted its stake in Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company's stock worth $2,948,000 after purchasing an additional 12,545 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company's stock worth $296,000 after purchasing an additional 92 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company's stock worth $3,265,000 after purchasing an additional 16,400 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Installed Building Products news, COO Brad A. Wheeler acquired 716 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $209.13 per share, with a total value of $149,737.08. Following the acquisition, the chief operating officer owned 14,988 shares of the company's stock, valued at $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason R. Niswonger acquired 455 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the acquisition, the insider directly owned 17,122 shares in the company, valued at $3,677,805.60. This represents a 2.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 4,046 shares of company stock worth $844,194 in the last three months. Company insiders own 13.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBP shares. Benchmark cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Wells Fargo & Company reduced their price objective on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Zacks Research cut Installed Building Products from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Stephens reduced their price objective on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Finally, Evercore set a $226.00 price objective on Installed Building Products in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $247.67.

Installed Building Products Stock Performance

NYSE IBP opened at $214.05 on Monday. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. Installed Building Products, Inc. has a 52-week low of $152.18 and a 52-week high of $349.00. The business's 50-day moving average price is $265.27 and its 200 day moving average price is $279.36. 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.

Installed Building Products (NYSE:IBP - Get Free Report) last announced 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). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business had revenue of $660.50 million during the quarter, compared to analysts' expectations of $668.92 million. During the same period in the prior year, the firm posted $2.08 EPS. Installed Building Products's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that Installed Building Products, Inc. will post 9.62 earnings per share for the current year.

Installed Building Products Dividend Announcement

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

Installed Building Products 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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