Giverny Capital Inc. Buys 3,338 Shares of 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. increased its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 508,073 shares of the construction company's stock after buying an additional 3,338 shares during the quarter. Installed Building Products accounts for about 3.2% of Giverny Capital Inc.'s portfolio, making the stock its 12th biggest holding. Giverny Capital Inc. owned about 1.84% of Installed Building Products worth $87,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. lifted its position in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after buying an additional 108 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after purchasing an additional 97 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Installed Building Products during the 4th quarter worth $90,000. Finally, Covestor Ltd grew its position in Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company's stock worth $96,000 after acquiring an additional 267 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, 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 of the company's stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider directly owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by corporate insiders.

Installed Building Products Stock Up 3.5%

IBP traded up $9.1360 during midday trading on Friday, reaching $273.3160. 699,705 shares of the company were exchanged, compared to its average volume of 631,743. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 30.40 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The company's fifty day moving average price is $209.26 and its 200 day moving average price is $182.74. Installed Building Products, Inc. has a one year low of $150.83 and a one year high of $278.74.

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

Installed Building Products Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on IBP. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a report on Tuesday, August 12th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and boosted their price objective for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective on the stock. in a research note on Friday, August 8th. Finally, Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $217.36.

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.