Heron Bay Capital Management Makes New Investment in Installed Building Products, Inc. $IBP

Heron Bay Capital Management bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, Holdings Channel.com reports. The institutional investor bought 49,384 shares of the construction company’s stock, valued at approximately $11,350,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Installed Building Products by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association acquired a new position in Installed Building Products during the first quarter valued at $263,000. Jane Street Group LLC boosted its stake in shares of Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after buying an additional 12,545 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after purchasing an additional 92 shares during the period. Finally, Jump Financial LLC grew its stake in shares of Installed Building Products by 959.6% during the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after purchasing an additional 16,400 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Michael Thomas Miller acquired 990 shares of Installed Building Products stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $200.62 per share, for a total transaction 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 trade represents a 2.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by corporate insiders.

Installed Building Products Stock Up 0.9%

Installed Building Products stock opened at $246.88 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average of $229.30 and a two-hundred day moving average of $257.12. Installed Building Products, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 4.59 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million for 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%. Installed Building Products’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. As a group, research analysts expect that Installed Building Products, Inc. will post 9.82 earnings per share for the current year.

Installed Building Products Announces Dividend

The business 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stephens cut their price objective on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Wells Fargo & Company reduced their price objective on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Truist Financial lowered their price target on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. Finally, Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $249.30.

Installed Building Products Profile

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.