Reinhart Partners LLC. Buys 454,005 Shares of Installed Building Products, Inc. $IBP

Reinhart Partners LLC. bought a new stake in Installed Building Products, Inc. (NYSE:IBP) during the third quarter, Holdings Channel.com reports. The firm bought 454,005 shares of the construction company’s stock, valued at approximately $87,114,000. Installed Building Products makes up about 2.1% of Reinhart Partners LLC.’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of IBP. BlackRock Inc. bought a new position in shares of Installed Building Products during the second quarter worth about $1,055,034,000. Giverny Capital Inc. boosted its stake in Installed Building Products by 0.9% during 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 during the period. Bank of America Corp DE boosted its stake 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 purchasing an additional 101,967 shares during the period. Bamco Inc. NY bought a new position in Installed Building Products in the 2nd quarter worth about $45,580,000. Finally, Paralel Advisors LLC bought a new position in Installed Building Products in the 2nd quarter worth about $37,924,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insider Activity at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the sale, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. DA Davidson raised their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Royal Bank Of Canada lowered their target price on Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Evercore set a $222.00 target price on Installed Building Products in a research note on Friday, September 25th. Finally, Wells Fargo & Company reduced their price target on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $236.83.

Installed Building Products Stock Performance

Shares of IBP opened at $185.26 on Friday. The firm’s 50 day moving average is $221.06 and its 200-day moving average is $232.85. The stock 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 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 12-month low of $178.54 and a 12-month high of $349.00.

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

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. Installed Building Products’s dividend payout ratio is currently 16.79%.

Installed Building Products 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.