Installed Building Products Inc (NYSE:IBP) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in Installed Building Products Inc (NYSE:IBP) by 2.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 313,189 shares of the construction company’s stock after selling 8,438 shares during the quarter. Geode Capital Management LLC’s holdings in Installed Building Products were worth $12,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Installed Building Products by 13.5% in the 1st quarter. Wellington Management Group LLP now owns 1,163,845 shares of the construction company’s stock worth $46,403,000 after acquiring an additional 138,209 shares during the last quarter. State Street Corp grew its holdings in shares of Installed Building Products by 6.4% in the 1st quarter. State Street Corp now owns 749,135 shares of the construction company’s stock worth $29,868,000 after acquiring an additional 45,379 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Installed Building Products in the 4th quarter worth $36,108,000. Goldman Sachs Group Inc. grew its holdings in shares of Installed Building Products by 23.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 361,069 shares of the construction company’s stock worth $24,867,000 after acquiring an additional 68,262 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Installed Building Products by 27.4% in the 1st quarter. Nuveen Asset Management LLC now owns 340,486 shares of the construction company’s stock worth $13,575,000 after acquiring an additional 73,184 shares during the last quarter. Institutional investors and hedge funds own 68.40% of the company’s stock.

A number of equities analysts recently issued reports on IBP shares. Nomura Securities lifted their target price on Installed Building Products from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Credit Suisse Group started coverage on Installed Building Products in a report on Wednesday, May 27th. They issued an “outperform” rating and a $79.00 target price on the stock. TheStreet raised Installed Building Products from a “c” rating to a “b-” rating in a research report on Wednesday, May 27th. ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Evercore ISI raised Installed Building Products from an “in-line” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Thursday, April 2nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.42.

IBP opened at $67.33 on Wednesday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 26.82 and a beta of 1.77. Installed Building Products Inc has a 1 year low of $29.02 and a 1 year high of $80.25. The company has a current ratio of 2.83, a quick ratio of 2.46 and a debt-to-equity ratio of 2.36. The stock has a fifty day moving average price of $64.58 and a 200 day moving average price of $61.29.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, May 8th. The construction company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.17. Installed Building Products had a return on equity of 45.79% and a net margin of 4.81%. The firm had revenue of $397.30 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that Installed Building Products Inc will post 2.84 earnings per share for the current fiscal year.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, 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.

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

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