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

Giverny Capital Inc. decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & 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 makes up about 3.1% of Giverny Capital Inc.’s investment portfolio, making the stock its 14th largest position. Giverny Capital Inc.’s holdings in Installed Building Products were worth $91,399,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IBP. Bessemer Group Inc. raised its position in Installed Building Products by 21.4% in the 4th quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock worth $31,973,000 after purchasing an additional 21,705 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Installed Building Products by 36,067.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company’s stock worth $14,260,000 after buying an additional 54,822 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Installed Building Products by 3.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock worth $35,518,000 after acquiring an additional 5,042 shares during the last quarter. Bank of America Corp DE boosted its holdings in 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 valued at $79,208,000 after acquiring an additional 101,967 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Installed Building Products in the second quarter worth $19,341,000. Institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IBP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. JPMorgan Chase & Co. reduced their price target on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a report on Monday, May 11th. Evercore set a $246.00 target price on shares of Installed Building Products in a research note on Friday, August 7th. Finally, DA Davidson raised their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $249.30.

Installed Building Products Stock Performance

IBP stock 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. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00. The business has a 50-day moving average price of $234.01 and a 200 day moving average price of $250.72. The company has a market capitalization of $6.36 billion, a P/E ratio of 25.76, a PEG ratio of 4.47 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS 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 business had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same quarter last year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a 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%.

Insider Buying and Selling

In other Installed Building Products news, CFO Michael Miller acquired 990 shares of Installed Building Products stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.80% of the stock is owned by company insiders.

About Installed Building Products

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.