Giverny Capital Inc. Sells 6,003 Shares of Installed Building Products, Inc. $IBP

Key Points

• Giverny Capital reduced its Installed Building Products stake by 6,003 shares in the second quarter, leaving it with 397,662 shares worth approximately $91.4 million. The stock represents 3.1% of the fund’s portfolio.
• Analysts maintain a consensus “Hold” rating on IBP, with an average price target of $249.30. Recent targets range from $195 to $246, while institutional investors own 99.61% of the company.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS and $777.8 million in revenue, while revenue grew 2.3% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 0.7% annualized yield.

Giverny Capital Inc. reduced its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 397,662 shares of the construction company's stock after selling 6,003 shares during the period. Installed Building Products comprises 3.1% of Giverny Capital Inc.'s portfolio, making the stock its 14th largest holding. Giverny Capital Inc. owned 1.50% of Installed Building Products worth $91,399,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Danske Bank A S purchased a new stake in Installed Building Products in the 3rd quarter worth $25,000. NewEdge Advisors LLC grew its position in shares of Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Installed Building Products during the 1st quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new stake in Installed Building Products during the 2nd quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock worth $37,000 after purchasing an additional 133 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the topic of several recent analyst reports. Evercore set a $246.00 price objective on shares of Installed Building Products in a research report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a report on Monday, May 11th. Finally, Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $249.30.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CFO Michael Miller purchased 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $200.62 per share, with a total value of $198,613.80. Following the acquisition, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.80% of the stock is currently owned by company insiders.

Installed Building Products Stock Up 0.3%

Shares of IBP opened at $239.33 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.47 and a beta of 1.71. Installed Building Products, Inc. has a 1 year low of $193.11 and a 1 year high of $349.00. The business's 50 day simple moving average is $234.01 and its 200-day simple moving average is $250.72.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same period last year, the firm posted $2.95 earnings per share. Installed Building Products's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products's dividend payout ratio (DPR) is presently 16.79%.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.

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