Park Avenue Securities LLC Reduces Position in Installed Building Products, Inc. (NYSE:IBP)

Park Avenue Securities LLC decreased its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,196 shares of the construction company’s stock after selling 407 shares during the period. Park Avenue Securities LLC’s holdings in Installed Building Products were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in shares of Installed Building Products in the fourth quarter valued at $25,000. Russell Investments Group Ltd. grew its position in shares of Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Hexagon Capital Partners LLC grew its position in Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after acquiring an additional 104 shares during the period. Annapolis Financial Services LLC grew its position in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after acquiring an additional 53 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Installed Building Products during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 1.6 %

Shares of IBP opened at $205.42 on Friday. The company has a market capitalization of $5.84 billion, a P/E ratio of 23.24 and a beta of 1.95. Installed Building Products, Inc. has a one year low of $106.01 and a one year high of $263.76. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.67 and a current ratio of 3.18. The stock has a 50-day moving average price of $219.25 and a 200 day moving average price of $215.65.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. The firm had revenue of $692.90 million during the quarter, compared to the consensus estimate of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. Sell-side analysts forecast that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, June 14th. Installed Building Products’s dividend payout ratio is currently 15.84%.

Analysts Set New Price Targets

A number of research firms have issued reports on IBP. Royal Bank of Canada boosted their price target on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research report on Friday, May 10th. Loop Capital boosted their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 10th. DA Davidson began coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 price target for the company. Benchmark boosted their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Evercore ISI upped their target price on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Moderate Buy” and an average target price of $229.30.

Insider Activity at Installed Building Products

In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by company insiders.

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.