Emerald Mutual Fund Advisers Trust Boosts Position in Installed Building Products Inc. (IBP)
Emerald Mutual Fund Advisers Trust raised its position in shares of Installed Building Products Inc. (NYSE:IBP) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 696,334 shares of the company’s stock after buying an additional 4,500 shares during the period. Installed Building Products accounts for about 1.4% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 9th largest position. Emerald Mutual Fund Advisers Trust owned about 2.22% of Installed Building Products worth $25,270,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Texas Permanent School Fund increased its stake in shares of Installed Building Products by 11.0% in the first quarter. Texas Permanent School Fund now owns 13,299 shares of the company’s stock worth $354,000 after buying an additional 1,314 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Installed Building Products during the first quarter worth approximately $1,128,000. Prudential Financial Inc. increased its stake in shares of Installed Building Products by 2.6% in the first quarter. Prudential Financial Inc. now owns 39,800 shares of the company’s stock worth $1,059,000 after buying an additional 1,000 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Installed Building Products by 15.6% in the first quarter. BlackRock Group LTD now owns 33,144 shares of the company’s stock worth $882,000 after buying an additional 4,469 shares during the last quarter. Finally, Zebra Capital Management LLC increased its stake in shares of Installed Building Products by 22.1% in the first quarter. Zebra Capital Management LLC now owns 14,175 shares of the company’s stock worth $377,000 after buying an additional 2,567 shares during the last quarter. 62.11% of the stock is owned by institutional investors.
Installed Building Products Inc. (NYSE:IBP) traded up 0.23% during mid-day trading on Tuesday, reaching $35.48. The company’s stock had a trading volume of 80,452 shares. The firm has a market cap of $1.11 billion, a PE ratio of 32.25 and a beta of 0.53. The company has a 50-day moving average price of $34.09 and a 200-day moving average price of $32.47. Installed Building Products Inc. has a 12-month low of $17.60 and a 12-month high of $38.97.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Installed Building Products had a return on equity of 29.31% and a net margin of 4.45%. The company earned $211.90 million during the quarter, compared to the consensus estimate of $212.87 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, equities research analysts expect that Installed Building Products Inc. will post $1.43 earnings per share for the current year.
A number of analysts recently commented on IBP shares. Zacks Investment Research downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. Deutsche Bank AG increased their price target on Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.25.
About Installed Building Products
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.
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