Installed Building Products, Inc. $IBP Holdings Increased by Radnor Capital Management LLC

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.

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

A number of other institutional investors and hedge funds have also made changes to their positions in IBP. Cetera Investment Advisers raised its holdings in shares of Installed Building Products by 9.0% in the fourth quarter. Cetera Investment Advisers now owns 5,341 shares of the construction company's stock valued at $936,000 after buying an additional 441 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Installed Building Products in the fourth quarter valued at about $263,000. Janus Henderson Group PLC raised its holdings in shares of Installed Building Products by 5.4% in the fourth quarter. Janus Henderson Group PLC now owns 15,351 shares of the construction company's stock valued at $2,691,000 after buying an additional 780 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Installed Building Products by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the construction company's stock valued at $2,391,000 after buying an additional 535 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Installed Building Products by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 7,208 shares of the construction company's stock valued at $1,263,000 after buying an additional 2,221 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total value of $1,727,115.00. Following the transaction, the insider owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. The trade was a 26.72% decrease in their ownership of the stock. 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 three months. 16.20% of the stock is owned by insiders.

Installed Building Products Price Performance

Shares of IBP stock traded down $4.71 during trading hours on Friday, hitting $259.00. The company's stock had a trading volume of 739,177 shares, compared to its average volume of 443,512. The business has a fifty day moving average of $242.50 and a 200-day moving average of $195.33. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 28.81 and a beta of 1.76. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.84 earnings per share. As a group, equities research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is 16.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on IBP. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada reissued an "underperform" rating and set a $184.00 price target (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Danske cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a report on Tuesday, August 12th. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a report on Friday, August 8th. Finally, Jefferies Financial Group increased their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and a consensus target price of $217.36.

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.