Installed Building Products, Inc. (IBP) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,241 shares of the construction company’s stock after selling 1,344 shares during the period. California State Teachers Retirement System owned about 0.12% of Installed Building Products worth $2,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Installed Building Products by 6.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock worth $128,000 after acquiring an additional 155 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of Installed Building Products by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after acquiring an additional 34 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Installed Building Products by 12.8% in the second quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock worth $169,000 after acquiring an additional 364 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Installed Building Products by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 3,965 shares of the construction company’s stock worth $209,000 after acquiring an additional 1,755 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Installed Building Products by 25.8% in the second quarter. Cubist Systematic Strategies LLC now owns 4,565 shares of the construction company’s stock worth $242,000 after acquiring an additional 936 shares during the period. 65.41% of the stock is owned by institutional investors.

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In other news, Director J Michael Nixon sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Thomas Miller sold 36,908 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,925,480.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,781 shares of company stock valued at $10,088,754. Corporate insiders own 32.90% of the company’s stock.

Shares of Installed Building Products, Inc. (NYSE IBP) opened at $67.30 on Wednesday. Installed Building Products, Inc. has a fifty-two week low of $38.15 and a fifty-two week high of $70.25. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $1,991.41, a PE ratio of 47.71 and a beta of 0.84.

Installed Building Products (NYSE:IBP) last released its quarterly 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 company had revenue of $295.20 million for the quarter, compared to the consensus estimate of $292.51 million. Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. equities research analysts expect that Installed Building Products, Inc. will post 1.48 EPS for the current fiscal year.

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

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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