Mason Street Advisors LLC acquired a new stake in shares of Installed Building Products Inc. (NYSE:IBP) during the second quarter, Holdings Channel reports. The firm acquired 3,247 shares of the company’s stock, valued at approximately $118,000.
Several other hedge funds also recently added to or reduced their stakes in IBP. Emerald Advisers Inc. PA raised its stake in Installed Building Products by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 603,766 shares of the company’s stock valued at $21,911,000 after buying an additional 6,320 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Installed Building Products by 0.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 696,334 shares of the company’s stock valued at $25,270,000 after buying an additional 4,500 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Installed Building Products by 75.2% in the second quarter. Essex Investment Management Co. LLC now owns 58,278 shares of the company’s stock valued at $2,115,000 after buying an additional 25,021 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Installed Building Products during the second quarter valued at $216,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Installed Building Products during the first quarter valued at $487,000. Institutional investors own 62.08% of the company’s stock.
Shares of Installed Building Products Inc. (NYSE:IBP) opened at 34.25 on Tuesday. The firm has a market cap of $1.07 billion, a P/E ratio of 31.14 and a beta of 0.53. The company has a 50-day moving average of $35.23 and a 200 day moving average of $33.12. Installed Building Products Inc. has a 52-week low of $17.60 and a 52-week high of $38.97.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, August 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $211.90 million for the quarter, compared to analysts’ expectations of $212.87 million. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. On average, equities analysts expect that Installed Building Products Inc. will post $1.43 earnings per share for the current year.
Several analysts have recently weighed in on IBP shares. Zacks Investment Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 12th. Deutsche Bank AG lifted their price objective on shares of Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Installed Building Products has a consensus rating of “Buy” and an average price target of $34.25.
About Installed Building Products
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.
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