Algert Global LLC acquired 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 Securities and Exchange Commission (SEC). The fund acquired 38,868 shares of the construction company’s stock, valued at approximately $2,519,000. Algert Global LLC owned approximately 0.12% of Installed Building Products at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stifel Financial Corp bought a new stake in Installed Building Products during the second quarter valued at approximately $9,434,000. Russell Investments Group Ltd. lifted its position in Installed Building Products by 118.9% during the third 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. BlackRock Inc. lifted its holdings in shares of Installed Building Products by 3.1% in 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. RK Capital Management LLC lifted its holdings in shares of Installed Building Products by 36.8% in the 2nd quarter. RK Capital Management LLC now owns 241,036 shares of the construction company’s stock worth $12,763,000 after acquiring an additional 64,900 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Installed Building Products in the 2nd quarter worth approximately $2,536,000. 65.91% of the stock is owned by institutional investors.

Installed Building Products, Inc. (NYSE IBP) traded up $2.20 during trading hours on Friday, reaching $71.10. 254,400 shares of the company were exchanged, compared to its average volume of 154,903. Installed Building Products, Inc. has a 52 week low of $39.95 and a 52 week high of $79.40. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70. The company has a market cap of $2,195.33, a price-to-earnings ratio of 52.60 and a beta of 0.87.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results 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). Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The firm had revenue of $295.20 million for the quarter, compared to the consensus estimate of $292.51 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. research analysts predict that Installed Building Products, Inc. will post 1.46 EPS for the current fiscal year.

A number of brokerages have recently weighed in on IBP. Jefferies Group began coverage on shares of Installed Building Products in a report on Tuesday. They issued a “hold” rating and a $69.00 price objective for the company. SunTrust Banks restated a “buy” rating and issued a $65.00 price objective on shares of Installed Building Products in a report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group set a $73.00 price objective on shares of Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $67.43.

In other news, Director Vikas Verma purchased 3,318 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the acquisition, the director now directly owns 230,251 shares of the company’s stock, valued at approximately $13,810,454.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 200,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $37,481,400. The disclosure for this sale can be found here. Insiders have sold a total of 413,781 shares of company stock valued at $28,617,254 over the last quarter. 32.90% of the stock is currently owned by company 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.

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

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