Keybank National Association OH lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,223 shares of the construction company’s stock after selling 585 shares during the period. Keybank National Association OH’s holdings in Installed Building Products were worth $435,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its stake in shares of Installed Building Products by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 116,156 shares of the construction company’s stock valued at $6,150,000 after buying an additional 18,515 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Installed Building Products by 55.7% during the 2nd quarter. Federated Investors Inc. PA now owns 76,917 shares of the construction company’s stock valued at $4,073,000 after buying an additional 27,506 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Installed Building Products during the 2nd quarter valued at $1,106,000. BNP Paribas Arbitrage SA boosted its stake in shares of Installed Building Products by 60.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,148 shares of the construction company’s stock valued at $326,000 after buying an additional 2,320 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Installed Building Products by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 36,819 shares of the construction company’s stock valued at $1,948,000 after buying an additional 3,575 shares during the period. 65.60% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on IBP shares. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Installed Building Products in a research note on Wednesday, June 7th. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Credit Suisse Group started coverage on shares of Installed Building Products in a research note on Thursday, June 22nd. They set an “outperform” rating and a $61.00 target price for the company. Zacks Investment Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG lifted their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Installed Building Products has an average rating of “Buy” and a consensus target price of $59.80.

Shares of Installed Building Products, Inc. (NYSE IBP) opened at 58.20 on Wednesday. The company has a 50 day moving average of $55.90 and a 200 day moving average of $52.38. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 44.70 and a beta of 0.80. Installed Building Products, Inc. has a 1-year low of $30.75 and a 1-year high of $60.00.

Installed Building Products (NYSE:IBP) last announced its earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The firm’s revenue was up 33.2% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products, Inc. will post $2.24 earnings per share for the current fiscal year.

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In related news, insider Todd R. Fry sold 1,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the completion of the transaction, the insider now owns 4,091 shares in the company, valued at $237,278. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jay P. Elliott sold 2,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $52.90, for a total transaction of $132,250.00. Following the transaction, the chief operating officer now owns 53,812 shares of the company’s stock, valued at approximately $2,846,654.80. The disclosure for this sale can be found here. Insiders have sold 7,265 shares of company stock valued at $415,292 in the last 90 days. 32.90% of the stock is currently owned by corporate insiders.

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.

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

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