Columbia Partners L.L.C. Investment Management purchased a new position in shares of Installed Building Products Inc (NYSE:IBP) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 13,214 shares of the construction company’s stock, valued at approximately $515,000.
Several other large investors have also modified their holdings of IBP. Xact Kapitalforvaltning AB acquired a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $219,000. Amalgamated Bank acquired a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $202,000. Alps Advisors Inc. acquired a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $614,000. Montag A & Associates Inc. grew its position in shares of Installed Building Products by 25.3% during the 2nd quarter. Montag A & Associates Inc. now owns 34,633 shares of the construction company’s stock worth $1,958,000 after buying an additional 7,000 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $249,000. Institutional investors own 71.15% of the company’s stock.
Several equities research analysts have recently commented on the stock. Nomura lowered their price target 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. Seaport Global Securities cut shares of Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, November 2nd. Credit Suisse Group set a $38.00 price target on shares of Installed Building Products and gave the stock a “hold” rating in a research report on Friday, November 2nd. Royal Bank of Canada set a $46.00 price target on shares of Installed Building Products and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, ValuEngine cut shares of Installed Building Products from a “sell” rating to a “strong sell” rating in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Installed Building Products presently has an average rating of “Hold” and an average target price of $52.70.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07). The firm had revenue of $349.00 million for the quarter, compared to analyst estimates of $346.39 million. Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, equities research analysts predict that Installed Building Products Inc will post 2.51 earnings per share for the current year.
In related news, CEO Jeffrey W. Edwards sold 150,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 300,159 shares in the company, valued at $10,238,423.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 31.10% of the stock is currently owned by insiders.
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Installed Building Products Company Profile
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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