Great West Life Assurance Co. Can raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,870 shares of the construction company’s stock after buying an additional 1,905 shares during the period. Great West Life Assurance Co. Can owned approximately 0.09% of Installed Building Products worth $1,527,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Tennessee Treasury Department increased its stake in Installed Building Products by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 18,582 shares of the construction company’s stock valued at $980,000 after buying an additional 2,804 shares during the period. Virginia Retirement Systems ET AL increased its stake in Installed Building Products by 12.3% in the first quarter. Virginia Retirement Systems ET AL now owns 36,500 shares of the construction company’s stock valued at $1,925,000 after buying an additional 4,000 shares during the period. Parametric Portfolio Associates LLC increased its stake in Installed Building Products by 23.7% in the first quarter. Parametric Portfolio Associates LLC now owns 91,904 shares of the construction company’s stock valued at $4,848,000 after buying an additional 17,580 shares during the period. Ameriprise Financial Inc. increased its stake in Installed Building Products by 21.3% in the first quarter. Ameriprise Financial Inc. now owns 261,174 shares of the construction company’s stock valued at $13,762,000 after buying an additional 45,832 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in Installed Building Products during the first quarter valued at approximately $556,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Installed Building Products, Inc. (IBP) opened at 54.95 on Thursday. Installed Building Products, Inc. has a 12 month low of $30.75 and a 12 month high of $60.00. The stock has a market cap of $1.74 billion, a P/E ratio of 42.20 and a beta of 0.81. The firm’s 50-day moving average is $54.67 and its 200-day moving average is $51.15.

Installed Building Products (NYSE:IBP) last announced its earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. The company had revenue of $282.20 million for the quarter, compared to analysts’ expectations of $274.63 million. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The business’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities analysts forecast that Installed Building Products, Inc. will post $2.24 earnings per share for the current fiscal year.

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Several analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Installed Building Products from $61.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Zacks Investment Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Deutsche Bank AG upped their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, August 21st. Finally, Credit Suisse Group assumed coverage on shares of Installed Building Products in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $61.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.80.

In other news, CEO Jeffrey W. Edwards sold 600,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the sale, the chief executive officer now owns 504,800 shares in the company, valued at $26,502,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margot Lebenberg Carter sold 2,198 shares of the 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 sale, the director now owns 8,761 shares in the company, valued at approximately $455,572. The disclosure for this sale can be found here. Insiders have sold 609,463 shares of company stock worth $32,029,588 in the last 90 days. Company insiders own 32.90% of the company’s stock.

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

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