Grandeur Peak Global Advisors LLC Makes New Investment in Installed Building Products, Inc. $IBP

Grandeur Peak Global Advisors LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, Holdings Channel reports. The firm bought 12,180 shares of the construction company’s stock, valued at approximately $2,799,000.

A number of other institutional investors have also made changes to their positions in IBP. BlackRock Inc. acquired a new stake in shares of Installed Building Products during the second quarter worth about $1,055,034,000. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after purchasing an additional 328,725 shares in the last quarter. Giverny Capital Inc. increased 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 worth $134,685,000 after purchasing an additional 4,500 shares in the last quarter. First Trust Advisors LP raised its holdings in Installed Building Products by 0.3% during the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after buying an additional 1,238 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after buying an additional 122,561 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller bought 990 shares of the stock in a transaction 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 completion of the purchase, the chief financial officer owned 34,209 shares in the company, valued at $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 SEC, which is available through the SEC website. 13.80% of the stock is currently owned by corporate insiders.

Installed Building Products Trading Down 1.9%

Shares of IBP stock opened at $241.24 on Friday. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The company has a market capitalization of $6.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 4.61 and a beta of 1.70. The firm has a 50 day moving average price of $231.77 and a two-hundred day moving average price of $254.83. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company posted $2.95 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Installed Building Products, Inc. will post 9.82 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBP. Evercore set a $246.00 price target on Installed Building Products in a report on Friday, August 7th. DA Davidson upped their price objective on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. The Goldman Sachs Group cut their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Stephens reduced their target price on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $249.30.

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.