PDT Partners LLC bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,900 shares of the construction company’s stock, valued at approximately $2,536,000. PDT Partners LLC owned approximately 0.15% of Installed Building Products as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scout Investments Inc. grew its holdings in Installed Building Products by 27.0% in the second quarter. Scout Investments Inc. now owns 68,600 shares of the construction company’s stock valued at $3,632,000 after purchasing an additional 14,600 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Installed Building Products by 7.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 28,870 shares of the construction company’s stock worth $1,527,000 after buying an additional 1,905 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Installed Building Products by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 34,530 shares of the construction company’s stock worth $1,821,000 after buying an additional 220 shares during the last quarter. Timpani Capital Management LLC acquired a new position in shares of Installed Building Products during the 2nd quarter worth $1,896,000. Finally, NorthCoast Asset Management LLC raised its stake in shares of Installed Building Products by 83.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 52,407 shares of the construction company’s stock worth $2,775,000 after buying an additional 23,845 shares during the last quarter. Institutional investors own 65.60% of the company’s stock.

Shares of Installed Building Products, Inc. (IBP) opened at 66.95 on Wednesday. The firm’s 50-day moving average price is $58.56 and its 200-day moving average price is $53.79. Installed Building Products, Inc. has a one year low of $30.75 and a one year high of $67.00. The firm has a market cap of $2.12 billion, a PE ratio of 51.42 and a beta of 0.83.

Installed Building Products (NYSE:IBP) last released its earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, beating the 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 business had revenue of $282.20 million during the quarter, compared to analyst estimates of $274.63 million. During the same period in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 33.2% on a year-over-year basis. Equities research analysts expect that Installed Building Products, Inc. will post $2.24 earnings per share for the current fiscal year.

In other news, VP Michael Thomas Miller sold 1,661 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the sale, the vice president now directly owns 32,086 shares of the company’s stock, valued at $1,925,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margot Lebenberg Carter sold 1,717 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $59.50, for a total value of $102,161.50. Following the sale, the director now directly owns 4,654 shares of the company’s stock, valued at $276,913. The disclosure for this sale can be found here. Insiders have sold 168,546 shares of company stock valued at $10,371,796 over the last 90 days. 32.90% of the stock is currently owned by insiders.

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Several equities research analysts recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Installed Building Products in a research report on Wednesday, June 7th. Deutsche Bank AG raised their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a report on Monday, August 21st. BidaskClub downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, KeyCorp restated a “hold” rating on shares of Installed Building Products in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.80.

Installed Building Products Profile

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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