Paralel Advisors LLC Invests $37.92 Million in Installed Building Products, Inc. $IBP

Paralel Advisors LLC purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the 2nd quarter, Holdings Channel.com reports. 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 portfolio, making the stock its 14th largest holding.

Several other large investors have also recently modified their holdings of the stock. Danske Bank A S purchased a new stake in Installed Building Products during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC raised its holdings in Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Installed Building Products in the first quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Installed Building Products by 700.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after buying an additional 133 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Installed Building Products by 446.7% during the first quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens lowered their price objective on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company decreased their price target on 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. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group reduced their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Evercore set a $246.00 target price on Installed Building Products in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average target price of $249.30.

Installed Building Products Trading Down 2.1%

Shares of IBP stock 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. Installed Building Products, Inc. has a 12-month low of $193.11 and a 12-month high of $349.00. The stock has a market capitalization of $6.50 billion, a P/E ratio of 26.31, a P/E/G ratio of 4.70 and a beta of 1.70. The firm’s 50 day moving average is $228.50 and its 200 day moving average is $257.20.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 42.12% and a net margin of 8.46%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. Research analysts expect that Installed Building Products, Inc. will post 9.78 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.39 per share. 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%.

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.