Heron Bay Capital Management Acquires New Shares in Installed Building Products, Inc. $IBP

Heron Bay Capital Management bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 19,441 shares of the construction company’s stock, valued at approximately $3,506,000.

Other hedge funds also recently added to or reduced their stakes in the company. Curio Wealth LLC boosted its holdings in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after acquiring an additional 168 shares during the period. SRH Advisors LLC increased its holdings in shares of Installed Building Products by 70.8% in the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares during the period. Advisors Asset Management Inc. lifted its position in Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock valued at $95,000 after purchasing an additional 149 shares during the last quarter. Covestor Ltd boosted its stake in Installed Building Products by 92.1% during the 1st quarter. Covestor Ltd now owns 557 shares of the construction company’s stock valued at $96,000 after purchasing an additional 267 shares during the period. Finally, CWM LLC grew its position in Installed Building Products by 178.7% in the 1st quarter. CWM LLC now owns 588 shares of the construction company’s stock worth $101,000 after purchasing an additional 377 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a report on Wednesday, October 8th. Loop Capital cut Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price on the stock. in a research report on Friday, August 8th. Royal Bank Of Canada lifted their target price on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research note on Thursday, November 6th. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target on the stock. in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Installed Building Products has an average rating of “Reduce” and a consensus price target of $222.80.

Installed Building Products Trading Up 6.2%

Shares of IBP stock opened at $258.72 on Friday. The stock has a 50-day simple moving average of $253.11 and a 200 day simple moving average of $221.41. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $280.00. The stock has a market capitalization of $7.02 billion, a P/E ratio of 28.78 and a beta of 1.81. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping the consensus estimate of $2.69 by $0.49. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same period in the previous year, the business earned $2.85 earnings per share. Installed Building Products’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s payout ratio is presently 15.93%.

Insider Activity at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $251.63, for a total value of $1,258,150.00. Following the sale, the insider owned 32,999 shares of the company’s stock, valued at $8,303,538.37. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by corporate insiders.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.