Laurus Global Equity Management Inc. Lowers Stock Holdings in Installed Building Products, Inc. $IBP

Laurus Global Equity Management Inc. reduced its position in Installed Building Products, Inc. (NYSE:IBP) by 40.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,140 shares of the construction company’s stock after selling 2,130 shares during the quarter. Laurus Global Equity Management Inc.’s holdings in Installed Building Products were worth $775,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Curio Wealth LLC boosted its stake in Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after buying an additional 168 shares in the last quarter. SRH Advisors LLC lifted its holdings in shares of Installed Building Products by 70.8% in the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after acquiring an additional 85 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at $42,000. Farther Finance Advisors LLC grew its holdings in shares of Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after purchasing an additional 54 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Installed Building Products by 14.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after purchasing an additional 54 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Installed Building Products

In related news, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the sale, the insider directly owned 32,999 shares of the company’s stock, valued at $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director directly owned 8,373 shares of the company’s stock, valued at $2,246,308.44. This represents a 19.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 target price on shares of Installed Building Products in a research note on Tuesday, January 13th. Zacks Research lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Evercore ISI set a $265.00 price objective on Installed Building Products in a research report on Thursday, November 6th. Finally, Vertical Research began coverage on shares of Installed Building Products in a research note on Monday, October 20th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Reduce” and an average target price of $235.36.

Installed Building Products Stock Up 0.7%

Shares of Installed Building Products stock opened at $294.63 on Thursday. The company’s fifty day simple moving average is $276.96 and its two-hundred day simple moving average is $257.49. Installed Building Products, Inc. has a 12-month low of $150.83 and a 12-month high of $317.86. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The company has a market cap of $7.99 billion, a P/E ratio of 31.71, a PEG ratio of 5.40 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The company had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same quarter in the previous year, the company earned $2.85 earnings per share. Installed Building Products’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.