Giverny Capital Inc. Raises Stake in Installed Building Products, Inc. $IBP

Key Points

• Giverny Capital Inc. has increased its stake in Installed Building Products, Inc. by 0.7%, owning approximately 1.84% of the company, valued at $87.1 million.
• Installed Building Products reported earnings of $2.95 per share for the last quarter, exceeding expectations, while revenues reached $760.3 million, surpassing consensus estimates.
• The company announced a quarterly dividend of $0.37, providing an annualized yield of 0.6%, with a payout ratio of 16.46% as of the latest filing.

Giverny Capital Inc. boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 508,073 shares of the construction company's stock after buying an additional 3,338 shares during the quarter. Installed Building Products makes up approximately 3.2% of Giverny Capital Inc.'s portfolio, making the stock its 12th largest holding. Giverny Capital Inc. owned about 1.84% of Installed Building Products worth $87,114,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Northern Trust Corp grew its position in shares of Installed Building Products by 15.4% during the 1st quarter. Northern Trust Corp now owns 320,859 shares of the construction company's stock valued at $55,014,000 after acquiring an additional 42,789 shares during the period. CacheTech Inc. lifted its stake in Installed Building Products by 10.4% in the first quarter. CacheTech Inc. now owns 16,956 shares of the construction company's stock valued at $2,907,000 after purchasing an additional 1,592 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Installed Building Products by 0.4% during the first quarter. Raymond James Financial Inc. now owns 136,259 shares of the construction company's stock valued at $23,363,000 after purchasing an additional 592 shares during the period. Cresset Asset Management LLC grew its holdings in Installed Building Products by 3.4% during the first quarter. Cresset Asset Management LLC now owns 6,470 shares of the construction company's stock valued at $1,109,000 after purchasing an additional 215 shares during the period. Finally, Liontrust Investment Partners LLP increased its position in Installed Building Products by 78.8% in the first quarter. Liontrust Investment Partners LLP now owns 8,951 shares of the construction company's stock worth $1,535,000 after buying an additional 3,946 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed 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. Jefferies Financial Group restated a "hold" rating and issued a $225.00 price objective (up from $175.00) on shares of Installed Building Products in a research note on Tuesday, August 12th. Benchmark cut their target price on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. DA Davidson reiterated a "neutral" rating and issued a $252.00 target price (up previously from $225.00) on shares of Installed Building Products in a research note on Tuesday, August 12th. Finally, Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Price Performance

IBP stock opened at $267.93 on Monday. The firm has a 50 day moving average of $199.54 and a 200-day moving average of $180.01. The firm has a market capitalization of $7.32 billion, a P/E ratio of 29.80 and a beta of 1.73. Installed Building Products, Inc. has a 12 month low of $150.83 and a 12 month high of $275.76. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly 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. The firm had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $2.84 EPS. As a group, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.

Insider Transactions at Installed Building Products

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

Installed Building Products 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.

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