Reinhart Partners LLC. Makes New Investment in Installed Building Products, Inc. $IBP

Key Points

• Reinhart Partners acquired 454,005 shares of Installed Building Products in the third quarter, valued at approximately $87.1 million and representing a 1.71% stake. Institutional investors collectively own 99.61% of the company.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS versus the $2.55 consensus and revenue of $777.8 million, up 2.3% year over year. Analysts expect $9.89 in full-year EPS.
• The stock opened at $185.26, well below its 12-month high of $349.00. Analysts maintain an average “Hold” rating with a consensus price target of $236.83, while the company pays a quarterly dividend of $0.39, yielding approximately 0.8%.

Reinhart Partners LLC. purchased a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 454,005 shares of the construction company's stock, valued at approximately $87,114,000. Installed Building Products comprises approximately 2.1% of Reinhart Partners LLC.'s holdings, making the stock its 19th largest position. Reinhart Partners LLC. owned 1.71% of Installed Building Products at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Installed Building Products during the second quarter worth about $1,055,034,000. Giverny Capital Inc. lifted its stake in shares of Installed Building Products by 0.9% in the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company's stock valued at $134,685,000 after purchasing an additional 4,500 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Installed Building Products by 51.8% during the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company's stock worth $79,208,000 after purchasing an additional 101,967 shares during the period. Bamco Inc. NY purchased a new stake in shares of Installed Building Products during the 2nd quarter worth about $45,580,000. Finally, Paralel Advisors LLC acquired a new stake in Installed Building Products during the 2nd quarter worth approximately $37,924,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Performance

Shares of IBP stock opened at $185.26 on Friday. Installed Building Products, Inc. has a 12 month low of $178.54 and a 12 month high of $349.00. 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 firm has a market capitalization of $4.92 billion, a P/E ratio of 19.94, a P/E/G ratio of 3.50 and a beta of 1.71. The company's fifty day moving average price is $221.06 and its two-hundred day moving average price is $232.85.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The company had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same period in the prior year, the company posted $2.95 EPS. Installed Building Products's quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Installed Building Products, Inc. will post 9.89 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Installed Building Products's dividend payout ratio (DPR) is presently 16.79%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Sunday, September 27th. Stifel Nicolaus initiated coverage on shares of Installed Building Products in a research note on Monday, September 14th. They set a "buy" rating and a $240.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Finally, DA Davidson lifted their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $236.83.

Insider Activity

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director owned 5,142 shares of the company's stock, valued at $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.80% of the company's stock.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

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