Comerica Bank Sells 3,912 Shares of Installed Building Products, Inc. $IBP

Comerica Bank decreased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 27.9% during the fourth quarter, HoldingsChannel reports. The fund owned 10,091 shares of the construction company’s stock after selling 3,912 shares during the quarter. Comerica Bank’s holdings in Installed Building Products were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legacy Wealth Asset Management LLC raised its holdings in Installed Building Products by 2.6% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company’s stock valued at $362,000 after acquiring an additional 35 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Installed Building Products by 3.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,265 shares of the construction company’s stock valued at $343,000 after purchasing an additional 43 shares in the last quarter. Amalgamated Bank grew its position in shares of Installed Building Products by 0.8% during the 3rd quarter. Amalgamated Bank now owns 6,589 shares of the construction company’s stock valued at $1,625,000 after purchasing an additional 50 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Installed Building Products by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 11,533 shares of the construction company’s stock valued at $2,991,000 after purchasing an additional 52 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Installed Building Products by 5.1% during the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock valued at $199,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Insider Buying and Selling at Installed Building Products

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet E. Jackson sold 1,410 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares of the company’s stock, valued at $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IBP shares. Benchmark lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Royal Bank Of Canada boosted their price target on shares of Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, DA Davidson boosted their price target on shares of Installed Building Products from $252.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Installed Building Products presently has an average rating of “Reduce” and a consensus target price of $259.70.

Installed Building Products Stock Down 4.6%

Shares of NYSE:IBP opened at $276.95 on Tuesday. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $349.00. The firm has a fifty day moving average of $290.49 and a 200 day moving average of $282.96. The firm has a market capitalization of $7.46 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.84. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. During the same period in the previous year, the business earned $2.88 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Installed Building Products, Inc. will post 10.81 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $1.80 dividend. The ex-dividend date was Friday, March 13th. This represents a yield of 63.0%. Installed Building Products’s payout ratio is 16.03%.

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.