Channing Capital Management LLC Has $36.20 Million Position in Installed Building Products, Inc. $IBP

Key Points

• Channing Capital Management LLC sold 5,344 shares of Installed Building Products, Inc. during Q1, reducing its stake by 2.5%, now holding 211,140 shares valued at approximately $36.2 million.
• Installed Building Products reported $760.3 million in revenue for its latest quarter, exceeding analyst expectations and showcasing a year-over-year revenue growth of 3.1%.
• The company announced a quarterly dividend of $0.37 per share, with a dividend yield of 0.6%, to be paid on September 30th to investors on record by September 15th.

Channing Capital Management LLC lessened its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,140 shares of the construction company's stock after selling 5,344 shares during the period. Channing Capital Management LLC owned about 0.76% of Installed Building Products worth $36,202,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company's stock worth $458,024,000 after acquiring an additional 34,512 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Installed Building Products by 28.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock worth $90,905,000 after buying an additional 117,810 shares during the last quarter. Giverny Capital Inc. increased its position in Installed Building Products by 0.7% during the first quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company's stock worth $87,114,000 after buying an additional 3,338 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Installed Building Products by 15.0% during the first quarter. Van Berkom & Associates Inc. now owns 429,458 shares of the construction company's stock worth $73,635,000 after buying an additional 56,000 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in Installed Building Products by 10.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 373,649 shares of the construction company's stock worth $64,066,000 after buying an additional 35,568 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBP shares. DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a research report on Friday, August 8th. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and an average price target of $217.36.

Insider Activity at Installed Building Products

In related news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares in the company, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by corporate insiders.

Installed Building Products Stock Performance

Shares of Installed Building Products stock traded up $3.24 on Tuesday, hitting $276.65. The stock had a trading volume of 250,428 shares, compared to its average volume of 439,829. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $278.74. The business's 50 day moving average is $211.39 and its two-hundred day moving average is $183.26. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 30.78 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. During the same quarter in the prior year, the business earned $2.84 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. Analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. Installed Building Products's dividend payout ratio is presently 16.46%.

Installed Building Products Company Profile

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.