Stocks to Watch: Installed Building Products, RLI, Cannae Holdings

Dow Jones
2024-10-08
 

By Connor Hart

 

Installed Building Products has acquired Wholesale Insulation Supply. Doing business as Insulation Supplies, the newly acquired company will add an insulation installer and complementary-building products provider to Installed Building Products' portfolio, as well as more than $22 million of annual revenue. Terms of the deal weren't disclosed. Shares rise 5%, to $248.96, in after-hours trading.

Specialty insurer RLI expects to post pretax net catastrophe losses from Hurricanes Beryl and Helene of between $35 million and $40 million in the third quarter. The company, expected to release its third-quarter earnings after the bell on Oct. 21, said that range is net of reinsurance recoverables and subject to change, given the complexity of the claims and the preliminary nature of the currently available information. Shares rise 5%, to $159.60, in postmarket trading.

Cannae Holdings bought a majority stake in The Watkins Company for an undisclosed amount, adding the maker of spices and seasonings to an eclectic portfolio that includes sports teams, restaurants and business software companies. The company bought the stake with KDSA Investment Partners, a firm focused on investing in family owned businesses in the food and beverage industry. Shares fall 1.9%, to $17.91, in after-hours trading.

 

Write to Connor Hart at connor.hart@wsj.com

 

(END) Dow Jones Newswires

October 07, 2024 19:30 ET (23:30 GMT)

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