Vanguard Group Inc. increased its position in Installed Building Products, Inc. (NYSE:IBP) by 6.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,009,259 shares of the construction company’s stock after buying an additional 60,832 shares during the period. Vanguard Group Inc.’s holdings in Installed Building Products were worth $53,238,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in IBP. Teachers Advisors LLC boosted its position in Installed Building Products by 481.2% in the first quarter. Teachers Advisors LLC now owns 213,255 shares of the construction company’s stock worth $11,249,000 after buying an additional 176,562 shares in the last quarter. Victory Capital Management Inc. boosted its position in Installed Building Products by 2,417.7% in the first quarter. Victory Capital Management Inc. now owns 55,340 shares of the construction company’s stock worth $2,919,000 after buying an additional 53,142 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Installed Building Products by 21.3% in the first quarter. Ameriprise Financial Inc. now owns 261,174 shares of the construction company’s stock worth $13,762,000 after buying an additional 45,832 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Installed Building Products by 10.2% in the first 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 boosted its position in Installed Building Products by 11.1% in the first quarter. Pembroke Management LTD now owns 335,900 shares of the construction company’s stock worth $17,718,000 after buying an additional 33,600 shares in the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s stock.

Installed Building Products, Inc. (NYSE:IBP) traded down 0.68% during trading on Wednesday, reaching $58.15. The company’s stock had a trading volume of 9,293 shares. Installed Building Products, Inc. has a 52-week low of $30.17 and a 52-week high of $60.00. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 46.93 and a beta of 0.81. The stock’s 50-day moving average is $52.89 and its 200 day moving average is $49.41.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.21. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The business had revenue of $282.20 million for the quarter, compared to the consensus estimate of $274.63 million. During the same period last year, the business earned $0.34 EPS. The firm’s revenue was up 33.2% compared to the same quarter last year. On average, analysts predict that Installed Building Products, Inc. will post $2.24 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/09/vanguard-group-inc-raises-stake-in-installed-building-products-inc-ibp.html.

A number of equities analysts have weighed in on IBP shares. Credit Suisse Group started coverage on Installed Building Products in a report on Thursday, June 22nd. They issued an “outperform” rating and a $61.00 price target for the company. Royal Bank Of Canada restated a “buy” rating and issued a $61.00 price target on shares of Installed Building Products in a report on Monday, June 19th. BidaskClub upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research cut Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. Finally, Seaport Global Securities upped their price target on Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Installed Building Products has an average rating of “Buy” and an average target price of $54.40.

In related news, COO Jay P. Elliott sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $52.90, for a total value of $132,250.00. Following the transaction, the chief operating officer now directly owns 53,812 shares of the company’s stock, valued at approximately $2,846,654.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total value of $31,500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 504,800 shares in the company, valued at $26,502,000. The disclosure for this sale can be found here. Insiders sold a total of 604,785 shares of company stock worth $31,751,766 over the last three months. 32.90% of the stock is owned by company insiders.

About Installed Building Products

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.

Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products, Inc. (NYSE:IBP).

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

Receive News & Ratings for Installed Building Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.