Installed Building Products, Inc. (IBP) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 64.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,873 shares of the construction company’s stock after acquiring an additional 1,915 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Installed Building Products were worth $316,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Installed Building Products by 3.1% in the second quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after buying an additional 84,555 shares in the last quarter. Wasatch Advisors Inc. increased its position in shares of Installed Building Products by 3.9% in the second quarter. Wasatch Advisors Inc. now owns 1,104,994 shares of the construction company’s stock valued at $58,509,000 after buying an additional 41,236 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Installed Building Products by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock valued at $55,400,000 after buying an additional 37,019 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Installed Building Products by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock worth $55,243,000 after purchasing an additional 42,938 shares in the last quarter. Finally, State Street Corp increased its position in Installed Building Products by 7.2% during the 2nd quarter. State Street Corp now owns 584,897 shares of the construction company’s stock worth $30,963,000 after purchasing an additional 39,302 shares in the last quarter. 65.87% of the stock is owned by institutional investors.

A number of analysts recently commented on the company. KeyCorp reiterated a “hold” rating on shares of Installed Building Products in a research report on Wednesday, November 1st. Royal Bank of Canada reiterated a “buy” rating and set a $69.00 price objective on shares of Installed Building Products in a research report on Monday, October 16th. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Friday, October 6th. SunTrust Banks restated a “buy” rating and issued a $65.00 price target on shares of Installed Building Products in a report on Friday, November 3rd. Finally, Jefferies Group began coverage on Installed Building Products in a report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Installed Building Products has an average rating of “Buy” and a consensus target price of $67.43.

Installed Building Products, Inc. (NYSE IBP) opened at $74.50 on Monday. The firm has a market capitalization of $2,388.10, a PE ratio of 56.87 and a beta of 0.87. Installed Building Products, Inc. has a 52 week low of $40.00 and a 52 week high of $79.40. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data 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). The firm had revenue of $295.20 million during the quarter, compared to analyst estimates of $292.51 million. Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. sell-side analysts anticipate that Installed Building Products, Inc. will post 1.46 earnings per share for the current fiscal year.

In related news, COO Jay P. Elliott sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.61, for a total transaction of $161,525.00. Following the transaction, the chief operating officer now directly owns 51,312 shares of the company’s stock, valued at approximately $3,315,268.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Michael Nixon sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. The disclosure for this sale can be found here. Insiders sold a total of 312,884 shares of company stock worth $22,563,065 over the last ninety days. Corporate insiders own 32.90% of the company’s stock.

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

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