IBP Installed Building Products, Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q1 2026: $34M, Q3 2025: $21M, Q2 2025: $46M, Q1 2025: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $34M vs trailing avg $22M (+55%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-96M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 945,000 shares = 3.5% of 26,975,227 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

5 open-market purchases by 1 insiders

• Miller Michael Thomas (Executive VP & CFO) bought 400 shares at $162.99 on 2025-05-16
• Miller Michael Thomas (Executive VP & CFO) bought 600 shares at $164.00 on 2025-05-16
• Miller Michael Thomas (Executive VP & CFO) bought 303 shares at $165.19 on 2025-05-16
• Miller Michael Thomas (Executive VP & CFO) bought 1,147 shares at $166.28 on 2025-05-16
• Miller Michael Thomas (Executive VP & CFO) bought 300 shares at $167.03 on 2025-05-16

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters and 5 insider purchases by 1 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $127M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 289.5x more than bought. 4 C-suite officers among sellers

• Edwards Jeffrey W. (President, CEO and Chairman) sold 400,000 shares on 2026-03-03
• HIRE WILLIAM JEFFREY (President of External Affairs) sold 4,900 shares on 2025-11-07
• HIRE WILLIAM JEFFREY (President of External Affairs) sold 100 shares on 2025-11-07
• Wheeler Brad A (Chief Operating Officer) sold 3,186 shares on 2025-08-26
• HIRE WILLIAM JEFFREY (President of External Affairs) sold 1,134 shares on 2025-08-14
• HIRE WILLIAM JEFFREY (President of External Affairs) sold 5,366 shares on 2025-08-14
• FRY TODD R (Chief Accounting Officer) sold 500 shares on 2025-08-11