Goldman Sachs Group Inc. Has $5.41 Million Position in Installed Building Prods (IBP)

Goldman Sachs Group Inc. lowered its position in shares of Installed Building Prods (NYSE:IBP) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,292 shares of the construction company’s stock after selling 31,191 shares during the period. Goldman Sachs Group Inc. owned approximately 0.22% of Installed Building Prods worth $5,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crow Point Partners LLC bought a new stake in shares of Installed Building Prods during the fourth quarter valued at approximately $128,000. Morse Asset Management Inc bought a new stake in shares of Installed Building Prods during the fourth quarter valued at approximately $228,000. Amalgamated Bank bought a new stake in shares of Installed Building Prods during the fourth quarter valued at approximately $239,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Installed Building Prods by 32.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after acquiring an additional 793 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in shares of Installed Building Prods by 22.7% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock valued at $338,000 after acquiring an additional 821 shares in the last quarter. 68.26% of the stock is owned by institutional investors.

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In other Installed Building Prods news, Director J Michael Nixon sold 20,000 shares of Installed Building Prods stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jay P. Elliott sold 3,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $73.50, for a total transaction of $220,500.00. Following the sale, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at approximately $3,550,932. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.

NYSE:IBP opened at $59.15 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.22 and a debt-to-equity ratio of 1.60. Installed Building Prods has a 12 month low of $46.65 and a 12 month high of $79.40. The company has a market capitalization of $1,879.86, a price-to-earnings ratio of 49.71, a P/E/G ratio of 0.91 and a beta of 0.91.

Installed Building Prods (NYSE:IBP) last posted its earnings results on Wednesday, February 28th. The construction company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). Installed Building Prods had a return on equity of 19.75% and a net margin of 3.63%. The company had revenue of $299.87 million during the quarter, compared to the consensus estimate of $302.02 million. During the same period last year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. sell-side analysts forecast that Installed Building Prods will post 2.16 earnings per share for the current year.

Installed Building Prods announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

IBP has been the subject of several analyst reports. ValuEngine raised shares of Installed Building Prods from a “sell” rating to a “hold” rating in a research report on Saturday, March 10th. Nomura initiated coverage on shares of Installed Building Prods in a research report on Tuesday, March 13th. They set a “buy” rating and a $77.00 price target for the company. Instinet initiated coverage on shares of Installed Building Prods in a research report on Tuesday, March 13th. They set a “buy” rating and a $77.00 price target for the company. Zacks Investment Research downgraded shares of Installed Building Prods from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zelman & Associates downgraded shares of Installed Building Prods from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $70.70.

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About Installed Building Prods

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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

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