Jeffrey W. Edwards Sells 600,000 Shares of Installed Building Products, Inc. (IBP) Stock

Installed Building Products, Inc. (NYSE:IBP) CEO Jeffrey W. Edwards sold 600,000 shares of Installed Building Products stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $26,502,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Installed Building Products, Inc. (NYSE:IBP) traded up 0.38% during midday trading on Friday, hitting $53.50. 283,483 shares of the stock were exchanged. The stock’s 50-day moving average price is $50.49 and its 200 day moving average price is $46.77. Installed Building Products, Inc. has a one year low of $30.16 and a one year high of $55.45. The stock has a market cap of $1.69 billion, a P/E ratio of 43.18 and a beta of 0.82.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, May 5th. The construction company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. The company had revenue of $255.70 million during the quarter, compared to analyst estimates of $236.19 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, analysts anticipate that Installed Building Products, Inc. will post $2.23 earnings per share for the current year.

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

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A number of hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System purchased a new stake in Installed Building Products during the fourth quarter worth approximately $226,000. Comerica Bank raised its stake in Installed Building Products by 5.8% in the fourth quarter. Comerica Bank now owns 21,095 shares of the construction company’s stock worth $872,000 after buying an additional 1,156 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Installed Building Products by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 709,804 shares of the construction company’s stock worth $29,315,000 after buying an additional 15,724 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Installed Building Products during the fourth quarter worth approximately $1,326,000. Finally, New York State Teachers Retirement System raised its stake in Installed Building Products by 13.5% in the fourth quarter. New York State Teachers Retirement System now owns 12,593 shares of the construction company’s stock worth $520,000 after buying an additional 1,500 shares in the last quarter. 64.52% of the stock is owned by institutional investors.

IBP has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Seaport Global Securities lifted their price target on shares of Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Finally, BidaskClub upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.75.

About Installed Building Products

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.

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