Westfield Capital Management Co. LP increased its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,252,398 shares of the construction company’s stock after purchasing an additional 2,642 shares during the quarter. Westfield Capital Management Co. LP owned 3.93% of Installed Building Products worth $66,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Installed Building Products by 3.1% during the second quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after purchasing an additional 84,555 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Installed Building Products by 6.4% during the first quarter. Vanguard Group Inc. now owns 1,009,259 shares of the construction company’s stock valued at $53,238,000 after purchasing an additional 60,832 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Installed Building Products by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock valued at $41,639,000 after purchasing an additional 79,567 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Installed Building Products by 10.2% during the first quarter. Loomis Sayles & Co. L P now owns 450,719 shares of the construction company’s stock valued at $23,775,000 after purchasing an additional 41,670 shares in the last quarter. Finally, Pembroke Management LTD lifted its holdings in shares of Installed Building Products by 12.6% during the second quarter. Pembroke Management LTD now owns 378,300 shares of the construction company’s stock valued at $20,030,000 after purchasing an additional 42,400 shares in the last quarter. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products, Inc. (NYSE IBP) traded down 0.26% on Friday, reaching $58.15. The company’s stock had a trading volume of 412,726 shares. The firm’s 50 day moving average price is $56.61 and its 200-day moving average price is $52.68. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 44.66 and a beta of 0.80. Installed Building Products, Inc. has a 1-year low of $30.75 and a 1-year high of $60.00.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.21. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The company had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue was up 33.2% compared to the same quarter last year. Equities analysts forecast that Installed Building Products, Inc. will post $2.24 earnings per share for the current year.

IBP has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $61.00 price target on shares of Installed Building Products in a report on Monday, June 19th. BidaskClub raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Deutsche Bank AG upped their price target on Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 24th. Finally, Credit Suisse Group initiated coverage on Installed Building Products in a report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.80.

In other Installed Building Products news, VP Michael Thomas Miller sold 1,661 shares of Installed Building Products stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the sale, the vice president now owns 32,086 shares of the company’s stock, valued at approximately $1,925,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $52.90, for a total value of $132,250.00. Following the sale, the chief operating officer now directly owns 53,812 shares of the company’s stock, valued at approximately $2,846,654.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,265 shares of company stock valued at $415,292. 32.90% of the stock is currently owned by insiders.

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Installed Building Products 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.

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

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