BlackRock Inc. raised its position in Installed Building Products, Inc. (NYSE:IBP) by 167,701.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,745,232 shares of the construction company’s stock after buying an additional 2,743,596 shares during the period. BlackRock Inc. owned about 8.76% of Installed Building Products worth $144,812,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of IBP. State of Alaska Department of Revenue raised its position in Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock worth $116,000 after buying an additional 60 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Installed Building Products during the fourth quarter worth $226,000. LS Investment Advisors LLC increased its stake in Installed Building Products by 508.7% in the first quarter. LS Investment Advisors LLC now owns 4,535 shares of the construction company’s stock worth $239,000 after buying an additional 3,790 shares during the period. Budros Ruhlin & Roe Inc. purchased a new stake in Installed Building Products during the first quarter worth $240,000. Finally, Mason Street Advisors LLC increased its stake in Installed Building Products by 8.0% in the first quarter. Mason Street Advisors LLC now owns 4,680 shares of the construction company’s stock worth $247,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 63.68% of the company’s stock.
Installed Building Products, Inc. (NYSE IBP) opened at 57.80 on Friday. Installed Building Products, Inc. has a one year low of $30.17 and a one year high of $60.00. The stock has a 50 day moving average price of $53.54 and a 200 day moving average price of $50.03. The firm has a market capitalization of $1.83 billion, a P/E ratio of 44.39 and a beta of 0.81.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.21. The business had revenue of $282.20 million for the quarter, compared to analyst estimates of $274.63 million. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. On average, equities analysts predict that Installed Building Products, Inc. will post $2.24 EPS for the current fiscal year.
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IBP has been the topic of a number of recent research reports. Credit Suisse Group initiated coverage on Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $61.00 target price on shares of Installed Building Products in a research report on Monday, June 19th. BidaskClub raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. Finally, Seaport Global Securities lifted their price objective on Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.40.
In other Installed Building Products news, Director Margot Lebenberg Carter sold 2,198 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $52.00, for a total value of $114,296.00. Following the sale, the director now owns 8,761 shares in the company, valued at $455,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jay P. Elliott sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $52.90, for a total transaction of $132,250.00. Following the completion of the sale, the chief operating officer now owns 53,812 shares in the company, valued at approximately $2,846,654.80. The disclosure for this sale can be found here. Insiders have sold a total of 606,502 shares of company stock worth $31,853,928 in the last quarter. 32.90% of the stock is currently owned by company insiders.
About Installed Building Products
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.
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