HAP Trading LLC purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,827 shares of the construction company’s stock, valued at approximately $702,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of Installed Building Products by 23.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 133,538 shares of the construction company’s stock valued at $8,653,000 after purchasing an additional 25,130 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Installed Building Products during the 3rd quarter valued at about $646,000. Russell Investments Group Ltd. increased its position in shares of Installed Building Products by 118.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 257,460 shares of the construction company’s stock valued at $16,684,000 after purchasing an additional 139,833 shares during the last quarter. Comerica Bank increased its position in shares of Installed Building Products by 5.8% during the 3rd quarter. Comerica Bank now owns 22,287 shares of the construction company’s stock valued at $1,498,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Installed Building Products by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 253,196 shares of the construction company’s stock valued at $16,406,000 after purchasing an additional 12,068 shares during the last quarter. 65.41% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on IBP shares. 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. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday, November 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 target price on shares of Installed Building Products in a report on Monday, October 16th. Finally, 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 report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $67.17.

In other Installed Building Products news, VP Michael Thomas Miller sold 36,908 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $60.01, for a total value of $2,214,849.08. Following the completion of the transaction, the vice president now directly owns 32,086 shares in the company, valued at approximately $1,925,480.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $59.98 per share, with a total value of $199,013.64. Following the completion of the purchase, the director now directly owns 230,251 shares in the company, valued at $13,810,454.98. The disclosure for this purchase can be found here. Insiders sold a total of 163,781 shares of company stock valued at $10,088,754 over the last three months. 32.90% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: “10,827 Shares in Installed Building Products, Inc. (IBP) Acquired by HAP Trading LLC” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/11/18/10827-shares-in-installed-building-products-inc-ibp-acquired-by-hap-trading-llc.html.

Installed Building Products, Inc. (NYSE:IBP) traded up $0.20 during trading on Friday, reaching $69.00. 124,598 shares of the company traded hands, compared to its average volume of 150,790. The stock has a market cap of $2,190.00, a price-to-earnings ratio of 51.37 and a beta of 0.84. Installed Building Products, Inc. has a one year low of $39.95 and a one year high of $70.25. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70.

Installed Building Products (NYSE:IBP) last released its earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.07). The firm had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $292.51 million. Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. analysts predict that Installed Building Products, Inc. will post 1.46 EPS for the current fiscal 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.

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

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