New York State Teachers Retirement System decreased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 20.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,293 shares of the construction company’s stock after selling 2,900 shares during the period. New York State Teachers Retirement System’s holdings in Installed Building Products were worth $732,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Scout Investments Inc. lifted its position in Installed Building Products by 27.0% during the 2nd quarter. Scout Investments Inc. now owns 68,600 shares of the construction company’s stock worth $3,632,000 after acquiring an additional 14,600 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Installed Building Products by 7.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 28,870 shares of the construction company’s stock worth $1,527,000 after acquiring an additional 1,905 shares during the last quarter. NorthCoast Asset Management LLC lifted its position in Installed Building Products by 83.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 52,407 shares of the construction company’s stock worth $2,775,000 after acquiring an additional 23,845 shares during the last quarter. BlackRock Inc. lifted its position in Installed Building Products by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock worth $149,836,000 after acquiring an additional 84,555 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Installed Building Products by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 116,156 shares of the construction company’s stock worth $6,150,000 after acquiring an additional 18,515 shares during the last quarter. 65.41% of the stock is owned by hedge funds and other institutional investors.

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Installed Building Products, Inc. (IBP) opened at $62.50 on Tuesday. The company has a market cap of $2,002.56, a PE ratio of 47.98 and a beta of 0.84. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. Installed Building Products, Inc. has a 52-week low of $37.90 and a 52-week high of $70.25.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $292.51 million. Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. sell-side analysts forecast that Installed Building Products, Inc. will post 1.48 EPS for the current fiscal year.

A number of research firms have weighed in on IBP. KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Friday, October 6th. Credit Suisse Group set a $73.00 target price on shares of Installed Building Products and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. SunTrust Banks, Inc. reissued a “buy” rating and set a $65.00 target price on shares of Installed Building Products in a research report on Friday, November 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $69.00 target price on shares of Installed Building Products in a research report on Monday, October 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Installed Building Products has an average rating of “Buy” and an average target price of $67.17.

In related news, CFO Michael Thomas Miller sold 7,430 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $60.00, for a total value of $445,800.00. Following the sale, the chief financial officer now owns 32,086 shares of the company’s stock, valued at $1,925,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vikas Verma bought 3,318 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the purchase, the director now owns 230,251 shares of the company’s stock, valued at $13,810,454.98. The disclosure for this purchase can be found here. Insiders have sold 163,781 shares of company stock valued at $10,088,754 in the last ninety days. 32.90% of the stock is owned by company insiders.

About Installed Building Products

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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