William Jeffrey Hire Sells 6,500 Shares of Installed Building Products, Inc. (NYSE:IBP) Stock

Key Points

• William Jeffrey Hire, an insider at Installed Building Products, sold 6,500 shares of the company's stock on August 14th for a total of $1,727,115, reducing his ownership by 14.61%.
• The company reported a $2.95 EPS for the last quarter, exceeding expectations and showing a 3.1% increase in revenue compared to the same period last year.
• Installed Building Products has announced a quarterly dividend of $0.37 per share, payable on September 30th, representing an annualized yield of 0.6%.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Installed Building Products Price Performance

Shares of NYSE:IBP traded up $1.16 during trading on Friday, reaching $267.93. The company had a trading volume of 489,715 shares, compared to its average volume of 438,596. The firm's fifty day moving average is $197.50 and its 200 day moving average is $179.83. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $275.76. The firm has a market capitalization of $7.32 billion, a PE ratio of 29.80 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85.

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

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio is 16.46%.

Analyst Ratings Changes

Several research analysts have recently commented on IBP shares. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Loop Capital cut Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research report on Friday, August 8th. Jefferies Financial Group restated a "hold" rating and set a $225.00 target price (up previously from $175.00) on shares of Installed Building Products in a research note on Tuesday. Danske lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a research note on Tuesday. Finally, Benchmark lowered 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $217.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Installed Building Products by 107.1% during the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company's stock worth $169,000 after purchasing an additional 510 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after purchasing an additional 97 shares during the period. Crossmark Global Holdings Inc. increased its stake in Installed Building Products by 27.2% in the first quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company's stock valued at $379,000 after acquiring an additional 473 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Installed Building Products by 36.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company's stock worth $356,000 after buying an additional 557 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Installed Building Products by 1.7% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

About Installed Building Products

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.

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