Park Avenue Securities LLC Has $649,000 Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Park Avenue Securities LLC boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 23.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,635 shares of the construction company’s stock after buying an additional 505 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 institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares in the last quarter. Duality Advisers LP increased its position in Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after acquiring an additional 3,389 shares during the period. Goodnow Investment Group LLC increased its position in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after acquiring an additional 20,737 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Installed Building Products during the first quarter worth $564,000. Finally, Swedbank AB increased its position in shares of Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $233.92 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $281.04. The stock has a market cap of $6.65 billion, a P/E ratio of 26.46 and a beta of 1.94. The company has a 50 day moving average of $224.94 and a 200 day moving average of $227.25.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, sell-side analysts forecast that Installed Building Products, Inc. will post 11.06 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.60%. Installed Building Products’s dividend payout ratio is currently 15.84%.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Evercore ISI lifted their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $255.40.

Installed Building Products Company Profile

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.