Alliancebernstein L.P. lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 156.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,500 shares of the construction company’s stock after purchasing an additional 40,000 shares during the period. Alliancebernstein L.P. owned 0.21% of Installed Building Products worth $3,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its position in shares of Installed Building Products by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,664 shares of the construction company’s stock valued at $512,000 after purchasing an additional 25 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Installed Building Products by 1.0% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the construction company’s stock valued at $556,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Installed Building Products by 6.8% during the second 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. Texas Permanent School Fund lifted its position in shares of Installed Building Products by 1.1% during the second quarter. Texas Permanent School Fund now owns 14,653 shares of the construction company’s stock valued at $776,000 after purchasing an additional 164 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Installed Building Products by 0.6% during the first quarter. Prudential Financial Inc. now owns 34,530 shares of the construction company’s stock valued at $1,821,000 after purchasing an additional 220 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors.

Installed Building Products, Inc. (NYSE IBP) opened at 65.90 on Friday. The company’s 50 day moving average is $59.16 and its 200-day moving average is $54.05. Installed Building Products, Inc. has a 52-week low of $30.75 and a 52-week high of $67.15. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 50.61 and a beta of 0.83.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, beating 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 company had revenue of $282.20 million for the quarter, compared to the consensus estimate of $274.63 million. During the same period in the prior year, the firm posted $0.34 EPS. Installed Building Products’s revenue for the quarter was up 33.2% on a year-over-year basis. Equities analysts anticipate that Installed Building Products, Inc. will post $2.24 EPS for the current fiscal year.

In related news, insider Todd R. Fry sold 1,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the sale, the insider now directly owns 4,091 shares of the company’s stock, valued at approximately $237,278. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margot Lebenberg Carter sold 1,717 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $59.50, for a total transaction of $102,161.50. Following the sale, the director now directly owns 4,654 shares in the company, valued at approximately $276,913. The disclosure for this sale can be found here. Insiders have sold a total of 168,546 shares of company stock worth $10,371,796 over the last three months. 32.90% of the stock is currently owned by insiders.

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A number of research analysts recently weighed in on IBP shares. Deutsche Bank AG raised their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, August 21st. BidaskClub lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Royal Bank Of Canada raised their price target on shares of Installed Building Products from $61.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Zacks Investment Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.20.

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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