Installed Building Products Inc (IBP) Holdings Raised by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. boosted its position in Installed Building Products Inc (NYSE:IBP) by 33.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,187 shares of the construction company’s stock after purchasing an additional 3,787 shares during the period. Icon Advisers Inc. Co.’s holdings in Installed Building Products were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. LPL Financial LLC grew its position in shares of Installed Building Products by 55.7% during the 1st quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock valued at $269,000 after acquiring an additional 1,602 shares during the period. Scout Investments Inc. grew its position in shares of Installed Building Products by 2.2% during the 3rd quarter. Scout Investments Inc. now owns 82,410 shares of the construction company’s stock valued at $3,214,000 after acquiring an additional 1,761 shares during the period. Arizona State Retirement System grew its position in shares of Installed Building Products by 5.8% during the 3rd quarter. Arizona State Retirement System now owns 32,094 shares of the construction company’s stock valued at $1,252,000 after acquiring an additional 1,766 shares during the period. Legal & General Group Plc grew its position in shares of Installed Building Products by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 45,179 shares of the construction company’s stock valued at $2,585,000 after acquiring an additional 1,813 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Installed Building Products by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 51,220 shares of the construction company’s stock valued at $2,896,000 after acquiring an additional 1,853 shares during the period. 70.47% of the stock is owned by institutional investors and hedge funds.

IBP has been the subject of a number of research reports. Royal Bank of Canada set a $66.00 target price on shares of Installed Building Products and gave the company a “buy” rating in a research report on Friday, August 3rd. Nomura reduced their target price on shares of Installed Building Products from $58.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Credit Suisse Group set a $38.00 target price on shares of Installed Building Products and gave the company a “hold” rating in a research report on Friday, November 2nd. Zelman & Associates downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Seaport Global Securities downgraded shares of Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $52.70.

Shares of IBP stock opened at $35.85 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.30 and a current ratio of 2.59. Installed Building Products Inc has a 12 month low of $29.24 and a 12 month high of $79.40.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07). The business had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, research analysts forecast that Installed Building Products Inc will post 2.51 EPS for the current year.

In related news, CEO Jeffrey W. Edwards sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $34.11, for a total transaction of $5,116,500.00. Following the sale, the chief executive officer now directly owns 300,159 shares in the company, valued at approximately $10,238,423.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 92,649 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the sale, the chief executive officer now owns 300,159 shares in the company, valued at $14,545,705.14. The disclosure for this sale can be found here. Corporate insiders own 31.10% of the company’s stock.

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About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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

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