Installed Building Products, Inc. (IBP) Stake Lessened by Wasatch Advisors Inc.

Wasatch Advisors Inc. lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 22.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 852,552 shares of the construction company’s stock after selling 252,442 shares during the period. Wasatch Advisors Inc. owned approximately 2.68% of Installed Building Products worth $55,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Installed Building Products by 3.1% in the 2nd quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after purchasing an additional 84,555 shares during the last quarter. Vanguard Group Inc. increased its holdings in Installed Building Products by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock valued at $55,400,000 after purchasing an additional 37,019 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Installed Building Products by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,581 shares of the construction company’s stock valued at $42,867,000 after purchasing an additional 20,210 shares during the last quarter. State Street Corp increased its holdings in Installed Building Products by 7.2% in the 2nd quarter. State Street Corp now owns 584,897 shares of the construction company’s stock valued at $30,963,000 after purchasing an additional 39,302 shares during the last quarter. Finally, Pembroke Management LTD increased its holdings in Installed Building Products by 12.6% in the 2nd quarter. Pembroke Management LTD now owns 378,300 shares of the construction company’s stock valued at $20,030,000 after purchasing an additional 42,400 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.

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Installed Building Products, Inc. (NYSE:IBP) traded up $0.30 during trading hours on Wednesday, hitting $72.85. 93,402 shares of the company’s stock traded hands, compared to its average volume of 150,826. The firm has a market capitalization of $2,243.12, a P/E ratio of 53.74 and a beta of 0.84. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. Installed Building Products, Inc. has a fifty-two week low of $39.95 and a fifty-two week high of $72.60.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.07). The business had revenue of $295.20 million during the quarter, compared to analyst estimates of $292.51 million. Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The business’s revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. research analysts expect that Installed Building Products, Inc. will post 1.46 earnings per share for the current fiscal year.

Several analysts recently weighed in on IBP shares. Deutsche Bank AG lifted their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a report on Monday, August 21st. BidaskClub upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday, November 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $69.00 target price on shares of Installed Building Products in a report on Monday, October 16th. Finally, Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.17.

In other Installed Building Products news, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the completion of the purchase, the director now directly owns 230,251 shares in the company, valued at approximately $13,810,454.98. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director J Michael Nixon sold 13,820 shares of Installed Building Products stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $60.00, for a total transaction of $829,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,781 shares of company stock valued at $10,088,754. Insiders own 32.90% of the company’s stock.

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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