Comerica Bank Sells 253 Shares of Installed Building Products Inc (IBP)

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Comerica Bank lowered its stake in Installed Building Products Inc (NYSE:IBP) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,548 shares of the construction company’s stock after selling 253 shares during the quarter. Comerica Bank owned about 0.07% of Installed Building Products worth $872,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Installed Building Products by 5.7% during the 3rd quarter. BlackRock Inc. now owns 3,350,626 shares of the construction company’s stock valued at $130,675,000 after purchasing an additional 179,725 shares in the last quarter. Vanguard Group Inc. grew its stake in Installed Building Products by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,168,058 shares of the construction company’s stock valued at $84,553,000 after purchasing an additional 142,853 shares in the last quarter. Vanguard Group Inc grew its stake in Installed Building Products by 7.1% during the 3rd quarter. Vanguard Group Inc now owns 2,168,058 shares of the construction company’s stock valued at $84,553,000 after purchasing an additional 142,853 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Installed Building Products by 11.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 790,120 shares of the construction company’s stock valued at $30,815,000 after purchasing an additional 80,105 shares in the last quarter. Finally, FMR LLC grew its stake in Installed Building Products by 23.5% during the 3rd quarter. FMR LLC now owns 525,991 shares of the construction company’s stock valued at $20,513,000 after purchasing an additional 99,986 shares in the last quarter. Institutional investors and hedge funds own 68.65% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Installed Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. TheStreet upgraded Installed Building Products from a “c+” rating to a “b-” rating in a research note on Friday, February 22nd. Nomura set a $42.00 target price on Installed Building Products and gave the stock a “buy” rating in a research report on Monday, December 17th. Macquarie upgraded Installed Building Products from a “neutral” rating to an “outperform” rating and set a $45.65 target price for the company in a research report on Thursday, March 7th. Finally, Royal Bank of Canada lowered Installed Building Products from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $46.00 to $43.00 in a research report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.77.

In related news, CEO Jeffrey W. Edwards sold 97,749 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $46.34, for a total value of $4,529,688.66. Following the sale, the chief executive officer now owns 124,323 shares of the company’s stock, valued at approximately $5,761,127.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Edwards sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $43.54, for a total value of $4,354,000.00. Following the completion of the sale, the chief executive officer now directly owns 124,323 shares in the company, valued at approximately $5,413,023.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 300,000 shares of company stock valued at $13,481,916. Insiders own 31.10% of the company’s stock.

Shares of IBP opened at $43.22 on Friday. The company has a market capitalization of $1.34 billion, a PE ratio of 16.19, a PEG ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 2.39. Installed Building Products Inc has a 52 week low of $29.24 and a 52 week high of $65.85.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, February 28th. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.64 by $0.08. The company had revenue of $353.10 million during the quarter, compared to analyst estimates of $346.30 million. Installed Building Products had a return on equity of 37.15% and a net margin of 4.10%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Equities analysts expect that Installed Building Products Inc will post 2.85 earnings per share for the current year.

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Installed Building Products Profile

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.

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

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