Park Avenue Securities LLC Acquires 218 Shares of Installed Building Products, Inc. $IBP

Park Avenue Securities LLC increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 6.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,597 shares of the construction company’s stock after purchasing an additional 218 shares during the period. Park Avenue Securities LLC’s holdings in Installed Building Products were worth $649,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Xponance Inc. grew its holdings in Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company’s stock worth $309,000 after purchasing an additional 67 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company’s stock worth $716,000 after purchasing an additional 68 shares during the period. TD Private Client Wealth LLC grew its holdings in Installed Building Products by 7.1% during the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company’s stock worth $194,000 after purchasing an additional 75 shares during the period. Blue Trust Inc. boosted its holdings in shares of Installed Building Products by 7.4% during the first quarter. Blue Trust Inc. now owns 1,212 shares of the construction company’s stock worth $208,000 after acquiring an additional 84 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of 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 acquiring an additional 97 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 0.3%

Shares of IBP stock opened at $249.36 on Monday. The firm has a market capitalization of $6.81 billion, a P/E ratio of 27.74 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 quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $248.71 and its 200 day simple moving average is $198.42.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $711.37 million. During the same quarter in the prior year, the firm earned $2.84 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend 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 is 16.46%.

Insider Activity

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of the 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 transaction, the director directly owned 6,873 shares in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBP. Royal Bank Of Canada restated an “underperform” rating and set a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Zelman & Associates upgraded Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Loop Capital cut Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a report on Friday, August 8th. Finally, DA Davidson cut Installed Building Products from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently 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.