Installed Building Products Inc (NYSE:IBP) Position Trimmed by Neuberger Berman Group LLC

Share on StockTwits

Neuberger Berman Group LLC cut its holdings in shares of Installed Building Products Inc (NYSE:IBP) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 741,405 shares of the construction company’s stock after selling 19,425 shares during the quarter. Neuberger Berman Group LLC’s holdings in Installed Building Products were worth $35,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBP. Citigroup Inc. grew its stake in shares of Installed Building Products by 1.5% in the first quarter. Citigroup Inc. now owns 14,927 shares of the construction company’s stock valued at $724,000 after buying an additional 214 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Installed Building Products by 19.0% in the first quarter. State of Tennessee Treasury Department now owns 17,256 shares of the construction company’s stock valued at $837,000 after buying an additional 2,760 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Installed Building Products in the first quarter valued at about $445,000. NumerixS Investment Technologies Inc grew its stake in shares of Installed Building Products by 50.0% in the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the construction company’s stock valued at $174,000 after buying an additional 1,200 shares in the last quarter. Finally, THB Asset Management acquired a new stake in shares of Installed Building Products in the first quarter valued at about $271,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Shares of NYSE IBP opened at $54.56 on Friday. Installed Building Products Inc has a fifty-two week low of $29.24 and a fifty-two week high of $62.35. The company has a quick ratio of 1.91, a current ratio of 2.24 and a debt-to-equity ratio of 2.44. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.20.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Installed Building Products had a return on equity of 41.94% and a net margin of 4.15%. The firm had revenue of $342.14 million during the quarter, compared to analyst estimates of $333.87 million. During the same quarter last year, the firm earned $0.45 EPS. Installed Building Products’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts expect that Installed Building Products Inc will post 2.98 earnings per share for the current fiscal year.

In other Installed Building Products news, Director Vikas Verma sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $53.00, for a total transaction of $1,590,000.00. Following the completion of the sale, the director now owns 231,935 shares in the company, valued at approximately $12,292,555. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael H. Thomas sold 2,648 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $54.03, for a total value of $143,071.44. Following the sale, the director now owns 11,102 shares of the company’s stock, valued at approximately $599,841.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,148 shares of company stock valued at $3,074,336. 25.20% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on IBP shares. TheStreet upgraded Installed Building Products from a “c+” rating to a “b-” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Thursday, May 2nd. Nomura raised their price objective on Installed Building Products to $52.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Royal Bank of Canada set a $50.00 price objective on Installed Building Products and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Credit Suisse Group set a $45.00 price objective on Installed Building Products and gave the company a “hold” rating in a research note on Friday, March 1st. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.87.

TRADEMARK VIOLATION WARNING: “Installed Building Products Inc (NYSE:IBP) Position Trimmed by Neuberger Berman Group LLC” was posted by Macon Daily and is the sole property of of Macon Daily. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://macondaily.com/2019/06/14/installed-building-products-inc-nyseibp-position-trimmed-by-neuberger-berman-group-llc.html.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, 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.

See Also: What is the significance of a dead cat bounce?

Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products Inc (NYSE:IBP).

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

Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.