Strs Ohio purchased a new position in Installed Building Products, Inc. (NYSE:IBP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 700 shares of the construction company’s stock, valued at approximately $71,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its stake in Installed Building Products by 31.5% during the 2nd quarter. FMR LLC now owns 522 shares of the construction company’s stock worth $36,000 after buying an additional 125 shares in the last quarter. US Bancorp DE grew its position in shares of Installed Building Products by 34.1% in the second quarter. US Bancorp DE now owns 609 shares of the construction company’s stock valued at $42,000 after purchasing an additional 155 shares in the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Installed Building Products in the third quarter valued at approximately $42,000. Point72 Hong Kong Ltd purchased a new stake in shares of Installed Building Products in the second quarter valued at approximately $139,000. Finally, Bank of Montreal Can grew its position in shares of Installed Building Products by 200.7% in the second quarter. Bank of Montreal Can now owns 3,010 shares of the construction company’s stock valued at $212,000 after purchasing an additional 2,009 shares in the last quarter. 62.47% of the stock is owned by institutional investors.
IBP has been the subject of a number of analyst reports. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $104.00 price target for the company. in a research report on Monday, October 5th. Zacks Investment Research lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. ValuEngine lowered Installed Building Products from a “hold” rating to a “sell” rating in a research report on Tuesday, December 1st. KeyCorp upgraded Installed Building Products from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Monday, October 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Installed Building Products from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, November 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $84.15.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, November 5th. The construction company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.03. Installed Building Products had a return on equity of 44.72% and a net margin of 5.49%. The company had revenue of $420.50 million for the quarter, compared to analysts’ expectations of $431.79 million. During the same period in the prior year, the firm earned $0.99 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts expect that Installed Building Products, Inc. will post 4.1 EPS for the current fiscal year.
In other news, Director Vikas Verma sold 17,000 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $115.00, for a total value of $1,955,000.00. Following the sale, the director now directly owns 88,148 shares in the company, valued at $10,137,020. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet E. Jackson sold 800 shares of the stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $101.58, for a total value of $81,264.00. Following the completion of the sale, the director now owns 11,195 shares in the company, valued at $1,137,188.10. The disclosure for this sale can be found here. Insiders have sold 70,121 shares of company stock worth $7,866,850 over the last 90 days. 24.00% of the stock is owned by insiders.
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, window blinds, 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.
Further Reading: How can investors benefit from after-hours trading?
Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products, Inc. (NYSE:IBP).
Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.