Gmt Capital Corp Lowers stake in Installed Building Products Inc (IBP)

Installed Building Products Inc (IBP) : Gmt Capital Corp reduced its stake in Installed Building Products Inc by 11.27% during the most recent quarter end. The investment management company now holds a total of 1,269,572 shares of Installed Building Products Inc which is valued at $39,458,298 after selling 161,200 shares in Installed Building Products Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Installed Building Products Inc makes up approximately 0.88% of Gmt Capital Corp’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in IBP by selling 171,695 shares or 70.43% in the most recent quarter. The Hedge Fund company now holds 72,076 shares of IBP which is valued at $2,240,122. Installed Building Products Inc makes up approx 0.01% of Royce Associates Lp’s portfolio.Gsa Capital Partners Llp reduced its stake in IBP by selling 15,926 shares or 41.45% in the most recent quarter. The Hedge Fund company now holds 22,500 shares of IBP which is valued at $726,975. Installed Building Products Inc makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio.American Century Companies Inc reduced its stake in IBP by selling 34,933 shares or 24.76% in the most recent quarter. The Hedge Fund company now holds 106,129 shares of IBP which is valued at $3,889,628.Capstone Asset Management Co boosted its stake in IBP in the latest quarter, The investment management firm added 2,670 additional shares and now holds a total of 12,530 shares of Installed Building Products Inc which is valued at $468,497. Installed Building Products Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.

Installed Building Products Inc opened for trading at $30.77 and hit $31.18 on the upside on Monday, eventually ending the session at $30.84, with a gain of 0.49% or 0.15 points. The heightened volatility saw the trading volume jump to 2,52,607 shares. Company has a market cap of $971 M.

On the company’s financial health, Installed Building Products Inc reported $0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.36. The company had revenue of $211.90 million for the quarter, compared to analysts expectations of $211.34 million. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Installed Building Products Inc. is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in all 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. The Company manages various aspects of the installation process for the customers from the direct purchase and receipt of materials from national manufacturers to supply of materials to job sites and quality installation. The Company’s customers include production and custom homebuilders multi-family and commercial contractors and homeowners.

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