D.A. Davidson & CO. increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,209 shares of the construction company’s stock after buying an additional 364 shares during the quarter. D.A. Davidson & CO.’s holdings in Installed Building Products were worth $169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of IBP. BlackRock Inc. lifted its position in Installed Building Products by 167,701.5% in the first quarter. BlackRock Inc. now owns 2,745,232 shares of the construction company’s stock worth $144,812,000 after buying an additional 2,743,596 shares during the last quarter. Teachers Advisors LLC lifted its position in Installed Building Products by 481.2% in the first quarter. Teachers Advisors LLC now owns 213,255 shares of the construction company’s stock worth $11,249,000 after buying an additional 176,562 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Installed Building Products in the second quarter worth $6,228,000. Dimensional Fund Advisors LP increased its stake in Installed Building Products by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock worth $41,639,000 after purchasing an additional 79,567 shares during the period. Finally, RK Capital Management LLC increased its stake in Installed Building Products by 36.8% in the second quarter. RK Capital Management LLC now owns 241,036 shares of the construction company’s stock worth $12,763,000 after purchasing an additional 64,900 shares during the period. Institutional investors own 65.60% of the company’s stock.

A number of research firms have weighed in on IBP. Zacks Investment Research lowered Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th. KeyCorp reiterated a “hold” rating on shares of Installed Building Products in a research note on Tuesday, September 26th. BidaskClub upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada increased their target price on Installed Building Products from $61.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Finally, Deutsche Bank AG increased their target price on Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.20.

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In other news, Director J Michael Nixon sold 50,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margot Lebenberg Carter sold 1,717 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $59.50, for a total value of $102,161.50. Following the completion of the transaction, the director now owns 4,654 shares in the company, valued at approximately $276,913. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,546 shares of company stock worth $10,371,796. 32.90% of the stock is owned by corporate insiders.

Installed Building Products, Inc. (NYSE:IBP) opened at 65.90 on Friday. Installed Building Products, Inc. has a 52 week low of $30.75 and a 52 week high of $67.15. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 50.61 and a beta of 0.83. The stock’s 50 day moving average price is $59.16 and its 200 day moving average price is $54.05.

Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $282.20 million for the quarter, compared to analyst estimates of $274.63 million. During the same quarter in the prior year, the company earned $0.34 EPS. Installed Building Products’s revenue was up 33.2% on a year-over-year basis. On average, analysts forecast that Installed Building Products, Inc. will post $2.24 earnings per share for the current year.

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.

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

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