California Public Employees Retirement System Has $1.70 Million Position in Installed Building Products Inc (IBP)

California Public Employees Retirement System increased its stake in shares of Installed Building Products Inc (NYSE:IBP) by 77.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,223 shares of the construction company’s stock after buying an additional 11,423 shares during the quarter. California Public Employees Retirement System’s holdings in Installed Building Products were worth $1,699,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Pinebridge Investments L.P. boosted its holdings in shares of Installed Building Products by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock valued at $140,000 after purchasing an additional 34 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Installed Building Products by 6.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock valued at $128,000 after purchasing an additional 155 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Installed Building Products by 11.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after purchasing an additional 198 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Installed Building Products by 12.8% in the 2nd quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock valued at $169,000 after purchasing an additional 364 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of Installed Building Products by 4.4% in the 2nd quarter. Nationwide Fund Advisors now owns 12,210 shares of the construction company’s stock valued at $647,000 after purchasing an additional 509 shares in the last quarter. 65.87% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the purchase, the director now owns 230,251 shares of the company’s stock, valued at $13,810,454.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Michael Nixon sold 20,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The disclosure for this sale can be found here. Insiders sold a total of 270,000 shares of company stock valued at $20,018,500 over the last quarter. 32.90% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on IBP. KeyCorp reaffirmed a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $69.00 target price on shares of Installed Building Products in a report on Monday, October 16th. Zacks Investment Research raised Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Friday, October 6th. SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday, November 3rd. Finally, Jefferies Group began coverage on Installed Building Products in a report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.43.

Installed Building Products Inc (NYSE IBP) opened at $74.40 on Friday. Installed Building Products Inc has a 12 month low of $40.00 and a 12 month high of $79.40. The company has a market capitalization of $2,357.83, a price-to-earnings ratio of 56.79 and a beta of 0.87. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $292.51 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. sell-side analysts predict that Installed Building Products Inc will post 1.46 earnings per share for the current fiscal year.

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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.

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

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