Horizon Bancorp Inc. IN Invests $278,000 in TopBuild Corp. (NYSE:BLD)

Horizon Bancorp Inc. IN purchased a new position in shares of TopBuild Corp. (NYSE:BLD) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 911 shares of the construction company’s stock, valued at approximately $278,000.

A number of other large investors have also modified their holdings of BLD. CIBC Asset Management Inc grew its stake in shares of TopBuild by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 967 shares of the construction company’s stock worth $301,000 after acquiring an additional 48 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of TopBuild by 124.8% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 2,279 shares of the construction company’s stock worth $710,000 after purchasing an additional 1,265 shares during the period. IFP Advisors Inc lifted its holdings in shares of TopBuild by 8.8% during the fourth quarter. IFP Advisors Inc now owns 1,015 shares of the construction company’s stock worth $316,000 after purchasing an additional 82 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of TopBuild during the fourth quarter worth about $5,913,000. Finally, Versor Investments LP acquired a new stake in shares of TopBuild during the fourth quarter worth about $328,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Stock Up 0.8%

TopBuild stock opened at $327.16 on Wednesday. The stock has a market capitalization of $9.35 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.26 and a beta of 1.62. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $495.68. The business has a 50 day simple moving average of $294.94 and a 200-day simple moving average of $310.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.47.

TopBuild (NYSE:BLD) last posted its quarterly earnings data on Tuesday, May 6th. The construction company reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.20. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. TopBuild had a return on equity of 28.52% and a net margin of 11.23%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.81 earnings per share. On average, analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven P. Raia sold 1,738 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $310.98, for a total transaction of $540,483.24. Following the completion of the sale, the insider now directly owns 7,007 shares in the company, valued at approximately $2,179,036.86. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

BLD has been the subject of a number of research reports. Wall Street Zen downgraded TopBuild from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Stephens decreased their target price on TopBuild from $340.00 to $320.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Loop Capital decreased their target price on TopBuild from $370.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Truist Financial decreased their price target on TopBuild from $395.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on TopBuild in a report on Tuesday, April 1st. They issued a “buy” rating and a $356.00 price target for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $380.22.

TopBuild Company Profile

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.