BlackRock Inc. Boosts Stake in Installed Building Products, Inc. (IBP)

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 Form 13F filing with the SEC. The institutional investor 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 8.76% of Installed Building Products worth $144,812,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBP. Renaissance Technologies LLC boosted its position in shares of Installed Building Products by 59.5% in the first quarter. Renaissance Technologies LLC now owns 51,200 shares of the construction company’s stock worth $2,701,000 after buying an additional 19,100 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Installed Building Products during the first quarter worth approximately $550,000. Morgan Stanley boosted its position in shares of Installed Building Products by 70.1% in the first quarter. Morgan Stanley now owns 141,862 shares of the construction company’s stock worth $7,483,000 after buying an additional 58,452 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new position in shares of Installed Building Products during the first quarter worth approximately $780,000. Finally, UBS Group AG boosted its position in shares of Installed Building Products by 9.7% in the first quarter. UBS Group AG now owns 151,259 shares of the construction company’s stock worth $7,979,000 after buying an additional 13,338 shares during the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

Installed Building Products, Inc. (NYSE:IBP) traded down 1.57% during midday trading on Friday, hitting $56.45. 169,179 shares of the stock traded hands. The firm has a market cap of $1.79 billion, a PE ratio of 43.36 and a beta of 0.81. Installed Building Products, Inc. has a 52-week low of $30.17 and a 52-week high of $60.00. The stock has a 50-day moving average of $54.26 and a 200 day moving average of $50.62.

Installed Building Products (NYSE:IBP) last announced its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.21. The company had revenue of $282.20 million during 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%. Installed Building Products’s revenue was up 33.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Equities analysts forecast that Installed Building Products, Inc. will post $2.24 EPS for the current year.

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A number of brokerages have commented on IBP. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th. Royal Bank Of Canada lifted their price objective on shares of Installed Building Products from $61.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Credit Suisse Group began coverage on shares of Installed Building Products in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, Seaport Global Securities raised their target price on shares of Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $59.25.

In other Installed Building Products news, Director Margot Lebenberg Carter sold 2,198 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $52.00, for a total transaction of $114,296.00. Following the completion of the transaction, the director now owns 8,761 shares of the company’s stock, valued at $455,572. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at approximately $26,502,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,463 shares of company stock valued at $32,029,588. 32.90% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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