Raymond James Financial Services Advisors Inc. Purchases New Holdings in Installed Building Products, Inc. (IBP)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,800 shares of the construction company’s stock, valued at approximately $311,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in Installed Building Products by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,664 shares of the construction company’s stock worth $512,000 after purchasing an additional 25 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in Installed Building Products by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after purchasing an additional 34 shares during the last quarter. Arizona State Retirement System lifted its holdings in Installed Building Products by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the construction company’s stock worth $556,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Installed Building Products by 6.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock worth $128,000 after purchasing an additional 155 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in Installed Building Products by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 14,653 shares of the construction company’s stock worth $776,000 after purchasing an additional 164 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

Shares of Installed Building Products, Inc. (IBP) traded down $0.65 during midday trading on Friday, reaching $72.00. The company’s stock had a trading volume of 204,612 shares, compared to its average volume of 205,569. The firm has a market cap of $2,314.81, a PE ratio of 55.46 and a beta of 0.87. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.22 and a quick ratio of 1.93. Installed Building Products, Inc. has a 52-week low of $39.95 and a 52-week high of $79.40.

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

In other Installed Building Products news, Director Vikas Verma purchased 3,318 shares of the stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $59.98 per share, with a total value of $199,013.64. Following the acquisition, 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 at this hyperlink. Also, CEO Jeffrey W. Edwards sold 200,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $74.25, for a total value of $14,850,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at approximately $37,481,400. The disclosure for this sale can be found here. Insiders have sold a total of 363,781 shares of company stock valued at $24,938,754 in the last three months. 32.90% of the stock is owned by insiders.

Several equities analysts have weighed in on IBP shares. BidaskClub raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Deutsche Bank lifted their price objective on Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 24th. KeyCorp reaffirmed a “hold” rating on shares of Installed Building Products in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Installed Building Products in a report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Installed Building Products presently has a consensus rating of “Buy” and a consensus target price of $67.17.

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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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