35,807 Shares in Installed Building Products, Inc. (IBP) Acquired by Timpani Capital Management LLC

Timpani Capital Management LLC purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 35,807 shares of the construction company’s stock, valued at approximately $1,896,000. Timpani Capital Management LLC owned approximately 0.11% of Installed Building Products at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. lifted its position in Installed Building Products by 167,701.5% during the 1st 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 in the last quarter. Vanguard Group Inc. lifted its position in Installed Building Products by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 1,009,259 shares of the construction company’s stock worth $53,238,000 after buying an additional 60,832 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Installed Building Products by 11.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock worth $41,639,000 after buying an additional 79,567 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Installed Building Products by 10.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 450,719 shares of the construction company’s stock worth $23,775,000 after buying an additional 41,670 shares in the last quarter. Finally, Pembroke Management LTD lifted its position in Installed Building Products by 12.6% during the 2nd quarter. Pembroke Management LTD now owns 378,300 shares of the construction company’s stock worth $20,030,000 after buying an additional 42,400 shares in the last quarter. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Jeffrey W. Edwards sold 600,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at $26,502,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Thomas Miller sold 1,661 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $60.00, for a total transaction of $99,660.00. Following the transaction, the vice president now directly owns 32,086 shares in the company, valued at $1,925,160. The disclosure for this sale can be found here. Insiders have sold 607,265 shares of company stock worth $31,915,292 over the last three months. 32.90% of the stock is owned by insiders.

Installed Building Products, Inc. (NYSE IBP) traded up 1.32% on Friday, hitting $57.50. 88,282 shares of the stock traded hands. The firm has a market capitalization of $1.82 billion, a PE ratio of 44.16 and a beta of 0.80. The stock has a 50 day moving average of $55.72 and a 200 day moving average of $52.10. Installed Building Products, Inc. has a 52 week low of $30.75 and a 52 week high of $60.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The company had revenue of $282.20 million for the quarter, compared to analyst estimates of $274.63 million. During the same period last year, the firm earned $0.34 earnings per share. The firm’s revenue was up 33.2% on a year-over-year basis. Equities research analysts anticipate that Installed Building Products, Inc. will post $2.24 earnings per share for the current year.

IBP has been the topic of several analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $61.00 price target on shares of Installed Building Products in a research report on Monday, June 19th. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Deutsche Bank AG boosted their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Zacks Investment Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Credit Suisse Group initiated coverage on shares of Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $59.80.

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Installed Building Products Company 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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