J Michael Nixon Sells 35,000 Shares of Installed Building Products Inc (IBP) Stock

Installed Building Products Inc (NYSE:IBP) Director J Michael Nixon sold 35,000 shares of Installed Building Products stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $62.02, for a total transaction of $2,170,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

J Michael Nixon also recently made the following trade(s):

  • On Tuesday, May 29th, J Michael Nixon sold 38,602 shares of Installed Building Products stock. The shares were sold at an average price of $62.02, for a total transaction of $2,394,096.04.

Installed Building Products opened at $60.65 on Friday, according to Marketbeat.com. The company has a quick ratio of 1.83, a current ratio of 2.13 and a debt-to-equity ratio of 1.69. Installed Building Products Inc has a 1 year low of $48.25 and a 1 year high of $79.40. The firm has a market capitalization of $1.95 billion, a P/E ratio of 50.97, a PEG ratio of 0.71 and a beta of 0.92.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 3rd. The construction company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Installed Building Products had a net margin of 3.49% and a return on equity of 19.09%. The firm had revenue of $301.72 million during the quarter, compared to analysts’ expectations of $297.14 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue was up 18.0% compared to the same quarter last year. equities research analysts forecast that Installed Building Products Inc will post 2.88 earnings per share for the current fiscal year.

Installed Building Products declared that its board has initiated a stock repurchase plan on Wednesday, February 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Wednesday, March 14th. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Jefferies Group upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, April 23rd. Royal Bank of Canada set a $71.00 target price on shares of Installed Building Products and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Instinet initiated coverage on shares of Installed Building Products in a research note on Tuesday, March 13th. They issued a “buy” rating and a $77.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $71.33.

Several institutional investors and hedge funds have recently bought and sold shares of IBP. BlackRock Inc. increased its holdings in Installed Building Products by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,047,412 shares of the construction company’s stock worth $182,998,000 after acquiring an additional 12,103 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Installed Building Products by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 883,243 shares of the construction company’s stock worth $53,039,000 after acquiring an additional 18,353 shares in the last quarter. Bamco Inc. NY increased its holdings in Installed Building Products by 166.7% in the 1st quarter. Bamco Inc. NY now owns 800,000 shares of the construction company’s stock worth $48,040,000 after acquiring an additional 500,000 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Installed Building Products in the 1st quarter worth $46,340,000. Finally, Neuberger Berman Group LLC increased its holdings in Installed Building Products by 27.5% in the 1st quarter. Neuberger Berman Group LLC now owns 707,005 shares of the construction company’s stock worth $42,456,000 after acquiring an additional 152,405 shares in the last quarter. Hedge funds and other institutional investors own 69.43% 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, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

Insider Buying and Selling by Quarter for Installed Building Products (NYSE:IBP)

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