Raymond James & Associates Sells 1,847 Shares of Installed Building Products, Inc. (NYSE:IBP)

Raymond James & Associates trimmed its position in Installed Building Products, Inc. (NYSE:IBP) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,080 shares of the construction company’s stock after selling 1,847 shares during the quarter. Raymond James & Associates owned about 0.11% of Installed Building Products worth $7,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Swedbank AB bought a new position in Installed Building Products in the 1st quarter worth approximately $96,248,000. Price T Rowe Associates Inc. MD increased its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after acquiring an additional 183,696 shares during the period. Millennium Management LLC raised its stake in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after purchasing an additional 114,259 shares during the last quarter. Renaissance Technologies LLC raised its stake in Installed Building Products by 2,912.0% during the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after purchasing an additional 72,800 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Installed Building Products in the 1st quarter valued at $17,806,000. 99.61% of the stock is owned by institutional investors.

Installed Building Products Stock Up 0.8 %

Shares of NYSE IBP opened at $217.15 on Thursday. The business has a fifty day moving average of $231.63 and a two-hundred day moving average of $225.66. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. Installed Building Products, Inc. has a 52-week low of $109.93 and a 52-week high of $281.04. The stock has a market cap of $6.18 billion, a PE ratio of 24.58 and a beta of 1.94.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, equities research analysts expect that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IBP shares. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $254.40.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.