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Radnor Capital Management LLC Acquires 1,375 Shares of Installed Building Products, Inc. $IBP

Installed Building Products logo with Construction background

Key Points

  • Radnor Capital Management LLC increased its stake in Installed Building Products, Inc. by 19.4% during the second quarter, owning 8,478 shares valued at approximately $1.53 million.
  • Installed Building Products' earnings for the recent quarter exceeded expectations with an Earnings Per Share (EPS) of $2.95, compared to the forecast of $2.45, and revenues up 3.1% year-over-year.
  • The company announced a quarterly dividend of $0.37 per share, payable on September 30th to stockholders of record as of September 15th, representing a 0.6% annualized dividend yield.
  • Five stocks we like better than Installed Building Products.

Radnor Capital Management LLC increased its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 19.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,478 shares of the construction company's stock after buying an additional 1,375 shares during the quarter. Radnor Capital Management LLC's holdings in Installed Building Products were worth $1,529,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Installed Building Products by 107.1% in the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company's stock valued at $169,000 after acquiring an additional 510 shares during the last quarter. Fifth Third Bancorp lifted its position in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after buying an additional 97 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Installed Building Products by 27.2% during the first quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company's stock worth $379,000 after acquiring an additional 473 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Installed Building Products by 36.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company's stock valued at $356,000 after purchasing an additional 557 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in Installed Building Products by 1.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after buying an additional 68 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on IBP. Zelman & Associates upgraded Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research report on Friday, August 8th. Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target on the stock. in a research note on Tuesday, August 12th. Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, DA Davidson cut shares of Installed Building Products from a "buy" rating to a "hold" rating and lifted their price target for the stock from $225.00 to $252.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $217.36.

View Our Latest Report on Installed Building Products

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the completion of the transaction, the director owned 6,873 shares in the company, valued at approximately $1,828,218. This trade represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brad A. Wheeler sold 3,186 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 11,655 shares of company stock worth $3,123,578 in the last 90 days. Company insiders own 16.20% of the company's stock.

Installed Building Products Trading Down 1.8%

NYSE:IBP traded down $4.71 on Friday, hitting $259.00. 739,177 shares of the stock were exchanged, compared to its average volume of 445,499. 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 fifty day moving average of $242.50 and a 200-day moving average of $195.48. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The stock has a market cap of $7.08 billion, a PE ratio of 28.81 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business's revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $2.84 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is presently 16.46%.

About Installed Building Products

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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