Heron Bay Capital Management Acquires Shares of 49,384 Installed Building Products, Inc. $IBP

Key Points

• Heron Bay Capital Management acquired 49,384 shares of Installed Building Products, valued at approximately $11.35 million, representing about 0.19% of the company. Institutional investors collectively own 99.61% of IBP.
• Analysts maintain a consensus “Hold” rating with an average price target of $249.30, although individual targets range from $195 to $285.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in earnings per share and $777.8 million in revenue. The company also declared a quarterly dividend of $0.39 per share, or $1.56 annually.

Heron Bay Capital Management acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,384 shares of the construction company's stock, valued at approximately $11,350,000. Heron Bay Capital Management owned about 0.19% of Installed Building Products at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Installed Building Products during the second quarter valued at approximately $1,055,034,000. Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 26.9% in 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. Orion Porfolio Solutions LLC grew its holdings in shares of Installed Building Products by 4,659.1% during the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company's stock valued at $30,996,000 after buying an additional 168,285 shares during the last quarter. Paralel Advisors LLC purchased a new stake in shares of Installed Building Products during the second quarter valued at approximately $37,924,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Installed Building Products during the second quarter valued at approximately $37,771,000. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

IBP has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $242.00 price target on shares of Installed Building Products in a research note on Monday, May 11th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on 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, DA Davidson raised their price objective on Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $249.30.

Insider Buying and Selling

In other news, CFO Michael Thomas Miller bought 990 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $200.62 per share, with a total value of $198,613.80. Following the transaction, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is owned by insiders.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $246.88 on Friday. The company 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. The firm's 50-day moving average is $229.30 and its 200 day moving average is $257.12. Installed Building Products, Inc. has a 12 month low of $193.11 and a 12 month high of $349.00. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping 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 firm had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same period in the prior year, the business posted $2.95 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is 16.79%.

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.

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