Installed Building Products Inc (IBP) Position Boosted by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. boosted its position in Installed Building Products Inc (NYSE:IBP) by 33.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,187 shares of the construction company’s stock after buying an additional 3,787 shares during the period. Icon Advisers Inc. Co.’s holdings in Installed Building Products were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. LPL Financial LLC lifted its holdings in Installed Building Products by 55.7% in the first quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock valued at $269,000 after buying an additional 1,602 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Installed Building Products in the second quarter valued at $219,000. Amalgamated Bank acquired a new position in Installed Building Products in the second quarter valued at $202,000. Alps Advisors Inc. acquired a new position in Installed Building Products in the second quarter valued at $614,000. Finally, Montag A & Associates Inc. lifted its holdings in Installed Building Products by 25.3% in the second quarter. Montag A & Associates Inc. now owns 34,633 shares of the construction company’s stock valued at $1,958,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.

Shares of NYSE IBP opened at $35.85 on Friday. Installed Building Products Inc has a 1-year low of $29.24 and a 1-year high of $79.40. The stock has a market cap of $1.16 billion, a PE ratio of 30.13, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a current ratio of 2.59, a quick ratio of 2.30 and a debt-to-equity ratio of 2.04.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.07). The business had revenue of $349.00 million for the quarter, compared to the consensus estimate of $346.39 million. Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities analysts anticipate that Installed Building Products Inc will post 2.51 EPS for the current year.

Several equities analysts recently issued reports on the stock. Macquarie assumed coverage on shares of Installed Building Products in a report on Wednesday, September 26th. They issued a “hold” rating and a $50.00 target price on the stock. Zelman & Associates lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. ValuEngine lowered shares of Installed Building Products from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Stephens reiterated a “buy” rating and set a $65.00 price objective on shares of Installed Building Products in a report on Wednesday, August 8th. Finally, TheStreet lowered shares of Installed Building Products from a “b” rating to a “c+” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.70.

In other news, CEO Jeffrey W. Edwards sold 92,649 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the completion of the sale, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at $14,545,705.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey W. Edwards sold 150,000 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $34.11, for a total transaction of $5,116,500.00. Following the sale, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at $10,238,423.49. The disclosure for this sale can be found here. Insiders own 31.10% of the company’s stock.

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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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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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