Installed Building Products, Inc. $IBP Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,816 shares of the construction company’s stock after selling 19,618 shares during the period. Royal Bank of Canada’s holdings in Installed Building Products were worth $35,746,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 acquired a new position in Installed Building Products during the first quarter worth approximately $263,000. Jane Street Group LLC lifted its stake in Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after buying an additional 12,545 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock valued at $296,000 after buying an additional 92 shares during the last quarter. Finally, Jump Financial LLC boosted its stake 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 during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $228.41 on Tuesday. Installed Building Products, Inc. has a one year low of $193.11 and a one year 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. The business has a fifty day moving average of $218.69 and a two-hundred day moving average of $262.52. The company has a market cap of $6.15 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 5.34 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.08 earnings per share. As a group, analysts predict that Installed Building Products, Inc. will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products’s dividend payout ratio is presently 16.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens dropped their price target on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group dropped their target price on Installed Building Products from $331.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. Finally, Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $247.67.

Insider Activity at Installed Building Products

In related news, CFO Michael Thomas Miller purchased 2,400 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the transaction, the chief financial officer owned 33,219 shares in the company, valued at approximately $6,903,572.58. The trade was a 7.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brad A. Wheeler purchased 716 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the purchase, the chief operating officer directly owned 14,988 shares in the company, valued at approximately $3,134,440.44. This represents a 5.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is currently owned by corporate insiders.

About Installed Building Products

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.