Installed Building Products (NYSE:IBP) Stock Price Down 6.5%

Installed Building Products, Inc. (NYSE:IBP)’s stock price was down 6.5% during trading on Tuesday . The company traded as low as $218.41 and last traded at $221.80. Approximately 160,418 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 253,579 shares. The stock had previously closed at $237.25.

Analyst Ratings Changes

A number of equities analysts recently commented on IBP shares. Loop Capital upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. DA Davidson started coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. Finally, Truist Financial raised their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Installed Building Products Trading Down 0.8 %

The stock has a market cap of $6.38 billion, a P/E ratio of 26.07 and a beta of 1.89. The stock’s 50-day moving average is $236.81 and its two-hundred day moving average is $183.78. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a dividend of $1.60 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a yield of 2.85%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Insiders Place Their Bets

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Brad A. Wheeler sold 1,119 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now directly owns 6,679 shares of the company’s stock, valued at $1,631,145.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at $1,675,596. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,619 shares of company stock valued at $1,606,732. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Installed Building Products by 10.0% during the first quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock worth $507,990,000 after purchasing an additional 405,604 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Installed Building Products by 13.2% during the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock valued at $239,629,000 after acquiring an additional 329,661 shares during the last quarter. Channing Capital Management LLC purchased a new stake in Installed Building Products in the 4th quarter valued at about $58,696,000. Stephens Investment Management Group LLC purchased a new stake in Installed Building Products in the 2nd quarter valued at about $29,964,000. Finally, Norges Bank purchased a new stake in Installed Building Products in the 4th quarter valued at about $37,583,000. 99.61% of the stock is owned by institutional investors and hedge funds.

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.