State of Tennessee Treasury Department Has $1.33 Million Stock Position in Installed Building Products Inc (NYSE:IBP) - Mitchell Messenger - Home Builder Developer, Interior Renovation and Design Home Builder Developer, Interior Renovation and Design

Home » Gutter Installation » State of Tennessee Treasury Department Has $1.33 Million Stock Position in Installed Building Products Inc (NYSE:IBP) – Mitchell Messenger

State of Tennessee Treasury Department boosted its stake in shares of Installed Building Products Inc (NYSE:IBP) by 24.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,232 shares of the construction companys stock after acquiring an additional 4,563 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Installed Building Products worth $1,332,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IBP. Tower Research Capital LLC TRC increased its stake in shares of Installed Building Products by 527.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction companys stock valued at $94,000 after buying an additional 1,335 shares in the last quarter. Bank of Montreal Can boosted its holdings in Installed Building Products by 178.7% in the second quarter. Bank of Montreal Can now owns 2,954 shares of the construction companys stock valued at $175,000 after acquiring an additional 1,894 shares during the last quarter. LPL Financial LLC bought a new position in Installed Building Products in the second quarter valued at about $209,000. Janus Henderson Group PLC bought a new position in Installed Building Products in the second quarter valued at about $226,000. Finally, Acadian Asset Management LLC bought a new position in Installed Building Products in the second quarter valued at about $278,000. Hedge funds and other institutional investors own 68.27% of the companys stock.

In related news, COO Jay P. Elliott sold 20,000 shares of Installed Building Products stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.83, for a total value of $1,416,600.00. Following the sale, the chief operating officer now owns 23,529 shares of the companys stock, valued at approximately $1,666,559.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vikas Verma sold 10,000 shares of Installed Building Products stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director now directly owns 151,935 shares in the company, valued at approximately $9,116,100. The disclosure for this sale can be found here. In the last three months, insiders sold 60,000 shares of company stock worth $3,966,600. 25.20% of the stock is owned by insiders.

NYSE IBP opened at $70.46 on Thursday. The firm has a market cap of $2.15 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.69 and a quick ratio of 2.39. The stocks 50-day moving average is $68.87 and its 200-day moving average is $59.03. Installed Building Products Inc has a one year low of $30.54 and a one year high of $76.60.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, November 1st. The construction company reported $0.99 EPS for the quarter, topping the Zacks consensus estimate of $0.86 by $0.13. The company had revenue of $396.40 million for the quarter, compared to analyst estimates of $385.46 million. Installed Building Products had a return on equity of 45.94% and a net margin of 4.47%. Installed Building Productss revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Equities analysts anticipate that Installed Building Products Inc will post 3.07 EPS for the current year.

About Installed Building Products

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.

State of Tennessee Treasury Department Has $1.33 Million Stock Position in Installed Building Products Inc (NYSE:IBP) – Mitchell Messenger

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