UBS Asset Management Americas Inc. raised its stake in shares of Installed Building Products Inc (NYSE:IBP) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,316 shares of the construction company’s stock after buying an additional 1,114 shares during the period. UBS Asset Management Americas Inc.’s holdings in Installed Building Products were worth $1,087,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Crow Point Partners LLC bought a new position in shares of Installed Building Products in the fourth quarter worth about $128,000. Morse Asset Management Inc bought a new position in shares of Installed Building Products in the fourth quarter worth about $228,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Installed Building Products by 32.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock worth $207,000 after purchasing an additional 793 shares during the period. Campbell Newman Asset Management Inc. increased its stake in shares of Installed Building Products by 22.7% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock worth $338,000 after purchasing an additional 821 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Installed Building Products in the third quarter worth about $311,000. Institutional investors own 68.24% of the company’s stock.
Shares of IBP stock opened at $58.70 on Friday. Installed Building Products Inc has a 1 year low of $46.65 and a 1 year high of $79.40. The firm has a market capitalization of $1,879.86, a PE ratio of 49.58, a P/E/G ratio of 0.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.92 and a current ratio of 2.22.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). The company had revenue of $299.87 million for the quarter, compared to analyst estimates of $302.02 million. Installed Building Products had a net margin of 3.63% and a return on equity of 19.75%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. analysts anticipate that Installed Building Products Inc will post 2.13 EPS for the current year.
Installed Building Products announced that its board has authorized a share repurchase plan on Wednesday, February 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
IBP has been the topic of a number of recent analyst reports. Zelman & Associates upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Jefferies Group initiated coverage on Installed Building Products in a research note on Tuesday, December 12th. They issued a “hold” rating and a $69.00 price objective on the stock. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $83.00 price objective on the stock in a research note on Thursday, February 1st. ValuEngine downgraded Installed Building Products from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada set a $71.00 target price on Installed Building Products and gave the stock a “buy” rating in a research report on Thursday, March 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $70.70.
In other Installed Building Products news, Director J Michael Nixon sold 20,000 shares of Installed Building Products stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $74.50, for a total transaction of $1,490,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jay P. Elliott sold 3,000 shares of Installed Building Products stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $73.50, for a total value of $220,500.00. Following the sale, the chief operating officer now directly owns 48,312 shares in the company, valued at $3,550,932. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by insiders.
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Installed Building Products Company Profile
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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