Installed Building Products, Inc. (NYSE:IBP) CAO Todd R. Fry Sells 500 Shares

Key Points

• Todd R. Fry, CAO of Installed Building Products, sold 500 shares of stock at an average price of $257.27, decreasing his overall position by 6.83% and leaving him with approximately $1.76 million in shares.
• Installed Building Products showed a positive performance with shares rising 3.9% to $273.40, alongside strong quarterly earnings reporting an EPS of $2.95, surpassing estimates by $0.50.
• The company declared a quarterly dividend of $0.37, payable on September 30th, which indicates a 0.5% dividend yield for investors.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) CAO Todd R. Fry sold 500 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Installed Building Products Trading Up 3.9%

Shares of NYSE:IBP traded up $10.22 during trading on Wednesday, hitting $273.40. The company had a trading volume of 635,381 shares, compared to its average volume of 437,609. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 30.41 and a beta of 1.73. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $275.76. The company has a fifty day simple moving average of $193.42 and a two-hundred day simple moving average of $178.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $2.84 EPS. As a group, equities analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is presently 16.46%.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently modified their holdings of IBP. McIlrath & Eck LLC boosted its position in shares of Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC increased its stake in Installed Building Products by 1.3% during the 2nd quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company's stock worth $874,000 after buying an additional 61 shares in the last quarter. Xponance Inc. grew its position in shares of Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after purchasing an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Installed Building Products by 1.7% in the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after acquiring an additional 68 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Installed Building Products by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company's stock worth $643,000 after acquiring an additional 70 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IBP shares. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Benchmark reduced their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Danske cut Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a research report on Tuesday. DA Davidson lowered Installed Building Products from a "strong-buy" rating to a "hold" rating and upped their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday. Finally, Loop Capital lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research note on Friday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.