Installed Building Products Inc (NYSE:IBP) – Equities researchers at KeyCorp boosted their FY2019 EPS estimates for shares of Installed Building Products in a report issued on Monday, May 6th, Zacks Investment Research reports. KeyCorp analyst K. Zener now expects that the construction company will earn $3.08 per share for the year, up from their prior estimate of $3.05.
Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. The company had revenue of $342.14 million for the quarter, compared to analyst estimates of $333.87 million. Installed Building Products had a return on equity of 41.94% and a net margin of 4.15%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share.
Shares of IBP stock traded down $0.69 during trading hours on Wednesday, reaching $51.44. The company’s stock had a trading volume of 290,370 shares, compared to its average volume of 202,750. The company has a market cap of $1.56 billion, a PE ratio of 19.27, a P/E/G ratio of 1.11 and a beta of 1.34. Installed Building Products has a fifty-two week low of $29.24 and a fifty-two week high of $65.85. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.91 and a current ratio of 2.24.
In other news, Director Michael H. Thomas sold 2,648 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $54.03, for a total transaction of $143,071.44. Following the completion of the sale, the director now directly owns 11,102 shares in the company, valued at $599,841.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jay P. Elliott sold 14,500 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.57, for a total transaction of $791,265.00. Following the sale, the chief operating officer now owns 45,529 shares of the company’s stock, valued at $2,484,517.53. The disclosure for this sale can be found here. In the last three months, insiders sold 320,648 shares of company stock worth $14,572,038. 25.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Installed Building Products by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 346,531 shares of the construction company’s stock valued at $13,514,000 after purchasing an additional 6,977 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Installed Building Products during the third quarter valued at approximately $2,227,000. MetLife Investment Advisors LLC increased its stake in shares of Installed Building Products by 59.9% during the third quarter. MetLife Investment Advisors LLC now owns 15,139 shares of the construction company’s stock valued at $590,000 after purchasing an additional 5,670 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Installed Building Products by 11.3% during the third quarter. Neuberger Berman Group LLC now owns 790,120 shares of the construction company’s stock valued at $30,815,000 after purchasing an additional 80,105 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Installed Building Products by 13.4% during the third quarter. Legal & General Group Plc now owns 51,244 shares of the construction company’s stock valued at $2,011,000 after purchasing an additional 6,065 shares in the last quarter. Institutional investors and hedge funds own 70.21% 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, window blinds, 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.
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