Installed Building Products Inc (IBP) Position Decreased by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. trimmed its position in Installed Building Products Inc (NYSE:IBP) by 66.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the construction company’s stock after selling 10,500 shares during the period. Icon Advisers Inc. Co.’s holdings in Installed Building Products were worth $395,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Teacher Retirement System of Texas acquired a new stake in Installed Building Products in the 4th quarter worth about $586,000. Pembroke Management LTD boosted its holdings in Installed Building Products by 9.5% in the 4th quarter. Pembroke Management LTD now owns 383,000 shares of the construction company’s stock worth $29,088,000 after buying an additional 33,300 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Installed Building Products in the 4th quarter worth about $228,000. SG Capital Management LLC acquired a new stake in Installed Building Products in the 4th quarter worth about $2,721,000. Finally, Campbell Newman Asset Management Inc. boosted its holdings in Installed Building Products by 22.7% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock worth $338,000 after buying an additional 821 shares during the last quarter. Institutional investors own 64.80% of the company’s stock.
Several equities research analysts recently issued reports on IBP shares. Zelman & Associates cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group initiated coverage on Installed Building Products in a report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Installed Building Products in a research note on Wednesday, November 1st. SunTrust Banks restated a “buy” rating and issued a $65.00 price objective on shares of Installed Building Products in a research note on Friday, November 3rd. Finally, Credit Suisse Group set a $73.00 price objective on shares of Installed Building Products and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Installed Building Products has a consensus rating of “Buy” and an average target price of $70.57.
Shares of Installed Building Products Inc (NYSE IBP) opened at $61.50 on Wednesday. Installed Building Products Inc has a 12 month low of $40.10 and a 12 month high of $79.40. The firm has a market cap of $1,996.19, a PE ratio of 47.82 and a beta of 0.69. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70.
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About Installed Building Products
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 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 provides cross-selling opportunities to supplement the insulation installation business.
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