Paralel Advisors LLC Purchases New Position in Installed Building Products, Inc. $IBP

Paralel Advisors LLC purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 165,000 shares of the construction company’s stock, valued at approximately $37,924,000. Installed Building Products comprises approximately 1.5% of Paralel Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Paralel Advisors LLC owned 0.61% of Installed Building Products at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MGO One Seven LLC increased its stake in shares of Installed Building Products by 3.1% during the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock valued at $294,000 after buying an additional 34 shares during the period. Abel Hall LLC lifted its stake in Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after acquiring an additional 35 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Installed Building Products by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock valued at $472,000 after acquiring an additional 35 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Installed Building Products by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock valued at $860,000 after acquiring an additional 35 shares in the last quarter. Finally, Petros Family Wealth LLC increased its position in Installed Building Products by 4.6% during the 1st quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock valued at $240,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP opened at $244.42 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 4.70 and a beta of 1.70. The stock has a fifty day simple moving average of $228.50 and a two-hundred day simple moving average of $257.20. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 EPS. Research analysts predict that Installed Building Products, Inc. will post 9.78 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s dividend payout ratio is 16.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IBP shares. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a research note on Monday, May 11th. Wells Fargo & Company decreased their price target on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. DA Davidson increased their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $249.30.

Insiders Place Their Bets

In other Installed Building Products news, CFO Michael Thomas Miller bought 990 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the purchase, the chief financial officer owned 34,209 shares of the company’s stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.80% of the company’s stock.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.