California Public Employees Retirement System lowered its stake in Installed Building Products Inc. (NYSE:IBP) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 34,100 shares of the company’s stock after selling 1,200 shares during the period. California Public Employees Retirement System owned about 0.11% of Installed Building Products worth $1,238,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning increased its stake in shares of Installed Building Products by 2,432.6% in the second quarter. Creative Planning now owns 4,432 shares of the company’s stock worth $161,000 after buying an additional 4,257 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock worth $196,000 after buying an additional 2,726 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Installed Building Products during the second quarter worth about $269,000. Capstone Asset Management Co. increased its stake in shares of Installed Building Products by 27.1% in the second quarter. Capstone Asset Management Co. now owns 12,530 shares of the company’s stock worth $455,000 after buying an additional 2,670 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of Installed Building Products by 11.0% in the first quarter. Texas Permanent School Fund now owns 13,299 shares of the company’s stock worth $354,000 after buying an additional 1,314 shares during the last quarter. Institutional investors and hedge funds own 62.11% of the company’s stock.
Installed Building Products Inc. (NYSE:IBP) traded down 0.360% during trading on Friday, reaching $34.575. The company’s stock had a trading volume of 35,941 shares. Installed Building Products Inc. has a 1-year low of $17.60 and a 1-year high of $38.97. The company has a market capitalization of $1.08 billion, a P/E ratio of 31.432 and a beta of 0.53. The company’s 50-day moving average is $35.14 and its 200-day moving average is $32.92.
Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, August 5th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm earned $211.90 million during the quarter, compared to analyst estimates of $212.87 million. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Equities analysts anticipate that Installed Building Products Inc. will post $1.43 EPS for the current year.
IBP has been the subject of a number of recent analyst reports. Zacks Investment Research raised Installed Building Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. Deutsche Bank AG raised their price objective on Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price 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.