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

Installed Building Products, Inc. (NYSE:IBP) dropped 6.5% during trading on Tuesday . The stock traded as low as $218.41 and last traded at $221.80. Approximately 160,418 shares changed 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 Upgrades and Downgrades

IBP has been the subject of several recent research reports. Evercore ISI boosted their price target on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $199.00 to $242.00 in a research report on Wednesday, February 28th. DA Davidson began coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Finally, Truist Financial upped their target price on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Installed Building Products Stock Down 0.8 %

The business has a 50 day moving average of $236.81 and a 200 day moving average of $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. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 26.07 and a beta of 1.89.

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

Installed Building Products Increases Dividend

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

Insiders Place Their Bets

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on 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 in the company, valued at $1,631,145.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on 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 in the company, valued at $1,631,145.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the transaction, the chief financial officer now owns 38,320 shares of the company’s stock, valued at $9,324,788.80. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock worth $1,606,732 over the last three months. 17.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in IBP. Ausbil Investment Management Ltd boosted its holdings in Installed Building Products by 66.4% during the first quarter. Ausbil Investment Management Ltd now owns 9,676 shares of the construction company’s stock worth $2,489,000 after buying an additional 3,862 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Installed Building Products by 75.0% during the first quarter. GAMMA Investing LLC now owns 679 shares of the construction company’s stock worth $176,000 after purchasing an additional 291 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Installed Building Products by 14.1% during the first quarter. Los Angeles Capital Management LLC now owns 16,540 shares of the construction company’s stock worth $4,279,000 after purchasing an additional 2,040 shares during the period. Virtu Financial LLC acquired a new stake in Installed Building Products in the 4th quarter valued at approximately $864,000. Finally, Quarry LP raised its position in Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.