Teachers Retirement System of The State of Kentucky Trims Position in Installed Building Products, Inc. $IBP

Key Points

• Teachers Retirement System of the State of Kentucky trimmed its stake in Installed Building Products by 27.1% in Q3, selling 4,189 shares and leaving it with 11,290 shares valued at $2.785 million.
• CEO Jeffrey W. Edwards sold 400,000 shares on March 3 at an average price of $314.06, raising roughly $125.6 million and reducing his holdings by 18.8%.
• Installed Building Products declared a special dividend of $1.80 per share (a 56.0% yield), with record date March 13 and payment scheduled for March 31.

Teachers Retirement System of The State of Kentucky trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,290 shares of the construction company's stock after selling 4,189 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Installed Building Products were worth $2,785,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its stake in shares of Installed Building Products by 2.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 68,202 shares of the construction company's stock worth $16,823,000 after purchasing an additional 1,664 shares during the period. Bahl & Gaynor Inc. raised its position in Installed Building Products by 32.7% in the third quarter. Bahl & Gaynor Inc. now owns 10,892 shares of the construction company's stock worth $2,687,000 after acquiring an additional 2,681 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Installed Building Products during the 3rd quarter valued at $779,000. American Century Companies Inc. grew its position in shares of Installed Building Products by 94.4% during the 3rd quarter. American Century Companies Inc. now owns 73,542 shares of the construction company's stock valued at $18,140,000 after acquiring an additional 35,703 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of Installed Building Products by 86.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 34,437 shares of the construction company's stock worth $8,494,000 after purchasing an additional 15,946 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insider Transactions at Installed Building Products

In other news, CEO Jeffrey W. Edwards sold 400,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,727,819 shares of the company's stock, valued at $542,638,835.14. This represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBP has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Installed Building Products from $230.00 to $259.00 and gave the company a "hold" rating in a research report on Monday, December 15th. Benchmark cut Installed Building Products from a "buy" rating to a "hold" rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. restated an "underweight" rating and set a $245.00 target price on shares of Installed Building Products in a research note on Tuesday, January 13th. Weiss Ratings upgraded shares of Installed Building Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Finally, Zacks Research cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating, ten have assigned 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 a consensus price target of $256.09.

Installed Building Products Stock Performance

IBP opened at $327.48 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 7.59 and a beta of 1.90. The company has a fifty day moving average of $304.33 and a 200 day moving average of $275.57. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 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 business had revenue of $747.50 million during the quarter, compared to the consensus estimate of $738.97 million. During the same quarter in the prior year, the firm earned $2.88 EPS. The business's revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company 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 dividend of $1.80 per share. This represents a yield of 56.0%. The ex-dividend date is Friday, March 13th. Installed Building Products's dividend payout ratio (DPR) is currently 15.21%.

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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