The Installed Building Products, Inc. (IBP) Stake Raised by Prudential Financial Inc.

The Installed Building Products, Inc. (IBP) Stake Raised by Prudential Financial Inc.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock valued at $116,000 after buying an additional 60 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Installed Building Products during the fourth quarter valued at $226,000. LS Investment Advisors LLC increased its position in shares of Installed Building Products by 508.7% in the first quarter. LS Investment Advisors LLC now owns 4,535 shares of the construction company’s stock valued at $239,000 after buying an additional 3,790 shares in the last quarter. Budros Ruhlin & Roe Inc. purchased a new position in shares of Installed Building Products during the first quarter valued at $240,000. Finally, Mason Street Advisors LLC increased its position in shares of Installed Building Products by 8.0% in the first quarter. Mason Street Advisors LLC now owns 4,680 shares of the construction company’s stock valued at $247,000 after buying an additional 345 shares in the last quarter. 64.80% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Inc. raised its position in Installed Building Products, Inc. (NYSE:IBP) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,530 shares of the construction company’s stock after buying an additional 220 shares during the period. Prudential Financial Inc. owned 0.11% of Installed Building Products worth $1,821,000 as of its most recent SEC filing.

Installed Building Products, Inc. (NYSE IBP) traded down 2.64% during trading on Wednesday, hitting $53.45. 76,451 shares of the stock traded hands. The stock has a market cap of $1.69 billion, a P/E ratio of 43.14 and a beta of 0.81. Installed Building Products, Inc. has a 52-week low of $30.16 and a 52-week high of $55.45. The stock has a 50 day moving average price of $52.76 and a 200-day moving average price of $49.28.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, May 5th. The construction company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $255.70 million for the quarter, compared to analyst estimates of $236.19 million. Installed Building Products had a return on equity of 26.42% and a net margin of 4.21%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. On average, analysts anticipate that Installed Building Products, Inc. will post $2.24 EPS for the current fiscal year.

Several brokerages have weighed in on IBP. Zacks Investment Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. Royal Bank Of Canada lifted their price target on shares of Installed Building Products from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, May 8th. BidaskClub downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Credit Suisse Group began coverage on shares of Installed Building Products in a report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price target on the stock. Finally, Seaport Global Securities lifted their price target on shares of Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $52.80.

In other news, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $52.90, for a total transaction of $132,250.00. Following the transaction, the chief operating officer now owns 53,812 shares in the company, valued at approximately $2,846,654.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Margot Lebenberg Carter sold 2,198 shares of Installed Building Products stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $52.00, for a total value of $114,296.00. Following the transaction, the director now owns 8,761 shares in the company, valued at approximately $455,572. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,698 shares of company stock worth $31,746,546. 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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