Voya Investment Management LLC Has $524,000 Position in Installed Building Products, Inc. (IBP)

Voya Investment Management LLC increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 12.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,902 shares of the construction company’s stock after buying an additional 1,070 shares during the period. Voya Investment Management LLC’s holdings in Installed Building Products were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in Installed Building Products by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,664 shares of the construction company’s stock worth $512,000 after buying an additional 25 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Installed Building Products by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after buying an additional 34 shares during the last quarter. Arizona State Retirement System raised its stake in Installed Building Products by 1.0% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the construction company’s stock worth $556,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Installed Building Products by 6.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock worth $128,000 after buying an additional 155 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in Installed Building Products by 1.1% during the second quarter. Texas Permanent School Fund now owns 14,653 shares of the construction company’s stock worth $776,000 after buying an additional 164 shares during the last quarter. 64.84% of the stock is owned by institutional investors and hedge funds.

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Shares of Installed Building Products, Inc. (NYSE IBP) opened at $64.85 on Monday. Installed Building Products, Inc. has a 52 week low of $33.20 and a 52 week high of $70.25. The company has a quick ratio of 1.98, a current ratio of 2.28 and a debt-to-equity ratio of 1.81. The firm has a market cap of $2,066.30, a price-to-earnings ratio of 49.50 and a beta of 0.84.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Installed Building Products had a net margin of 3.88% and a return on equity of 24.34%. The company had revenue of $295.20 million during the quarter, compared to the consensus estimate of $292.51 million. During the same period last year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. equities research analysts predict that Installed Building Products, Inc. will post 1.48 EPS for the current year.

A number of equities analysts recently weighed in on IBP shares. 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 downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th. Credit Suisse Group set a $73.00 target price on shares of Installed Building Products and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and set a $69.00 target price on shares of Installed Building Products in a research note on Monday, October 16th. Finally, Deutsche Bank AG lifted their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Installed Building Products currently has a consensus rating of “Buy” and an average price target of $67.17.

In other news, CFO Michael Thomas Miller sold 7,430 shares of Installed Building Products stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $60.00, for a total transaction of $445,800.00. Following the completion of the transaction, the chief financial officer now directly owns 32,086 shares in the company, valued at $1,925,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd R. Fry sold 1,000 shares of Installed Building Products stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the transaction, the insider now owns 4,091 shares of the company’s stock, valued at $237,278. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,459 shares of company stock valued at $10,366,576. Insiders own 32.90% of the company’s stock.

Installed Building Products Profile

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

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