Michael Thomas Miller Acquires 990 Shares of Installed Building Products (NYSE:IBP) Stock

Installed Building Products, Inc. (NYSE:IBP) CFO Michael Thomas Miller bought 990 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Michael Thomas Miller also recently made the following trade(s):

• On Monday, May 11th, Michael Thomas Miller purchased 2,400 shares of Installed Building Products stock. The shares were purchased at an average price of $207.82 per share, for a total transaction of $498,768.00.

Installed Building Products Stock Down 0.0%

IBP opened at $207.09 on Monday. The company has a fifty day moving average of $245.65 and a two-hundred day moving average of $274.44. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 5.11 and a beta of 1.71. Installed Building Products, Inc. has a fifty-two week low of $162.56 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. During the same period in the previous year, the company earned $2.08 earnings per share. The company’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts expect that Installed Building Products, Inc. will post 9.62 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, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.39 per share. The ex-dividend date is Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. Installed Building Products’s dividend payout ratio is currently 16.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company dropped their price target on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Truist Financial cut their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $247.67.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association purchased a new position in Installed Building Products in the 1st quarter valued at $263,000. Jane Street Group LLC boosted its stake in Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after purchasing an additional 12,545 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after buying an additional 92 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after buying an additional 16,400 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.