Installed Building Products Inc. (IBP) Position Increased by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA increased its position in shares of Installed Building Products Inc. (NYSE:IBP) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 603,766 shares of the company’s stock after buying an additional 6,320 shares during the period. Installed Building Products makes up approximately 1.1% of Emerald Advisers Inc. PA’s portfolio, making the stock its 18th largest position. Emerald Advisers Inc. PA owned approximately 1.93% of Installed Building Products worth $21,911,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in IBP. Essex Investment Management Co. LLC increased its stake in shares of Installed Building Products by 75.2% in the second quarter. Essex Investment Management Co. LLC now owns 58,278 shares of the company’s stock worth $2,115,000 after buying an additional 25,021 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Installed Building Products during the first quarter worth $487,000. 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. BNP Paribas Arbitrage SA increased its stake in shares of Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock worth $196,000 after buying an additional 2,726 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 62.11% of the company’s stock.
Installed Building Products Inc. (NYSE:IBP) traded down 0.06% during mid-day trading on Tuesday, reaching $35.38. 56,190 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $34.09 and a 200-day moving average price of $32.47. The stock has a market cap of $1.11 billion, a P/E ratio of 32.16 and a beta of 0.53. Installed Building Products Inc. has a 52 week low of $17.60 and a 52 week high of $38.97.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $211.90 million for the quarter, compared to the consensus estimate of $212.87 million. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. On average, analysts forecast that Installed Building Products Inc. will post $1.43 earnings per share for the current year.
IBP has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Installed Building Products from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Deutsche Bank AG upped their price target on shares of Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.25.
Installed Building Products Company Profile
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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