Installed Building Products Inc (NYSE:IBP) Position Lowered by Pembroke Management LTD

Pembroke Management LTD lessened its stake in Installed Building Products Inc (NYSE:IBP) by 9.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 496,125 shares of the construction company’s stock after selling 52,120 shares during the quarter. Installed Building Products makes up about 3.1% of Pembroke Management LTD’s investment portfolio, making the stock its 6th largest position. Pembroke Management LTD owned about 1.65% of Installed Building Products worth $29,381,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Installed Building Products by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 358,090 shares of the construction company’s stock valued at $12,064,000 after acquiring an additional 11,559 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Installed Building Products by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 905,324 shares of the construction company’s stock valued at $30,501,000 after acquiring an additional 6,758 shares in the last quarter. Geode Capital Management LLC lifted its stake in Installed Building Products by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 236,291 shares of the construction company’s stock valued at $7,960,000 after purchasing an additional 26,318 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Installed Building Products in the 4th quarter valued at about $297,000. Finally, Squarepoint Ops LLC acquired a new stake in Installed Building Products in the 4th quarter valued at about $450,000. 70.20% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:IBP traded down $0.09 during mid-day trading on Friday, hitting $52.89. The stock had a trading volume of 200,484 shares, compared to its average volume of 138,117. Installed Building Products Inc has a twelve month low of $29.24 and a twelve month high of $59.93. The firm has a market cap of $1.59 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. The stock has a 50 day simple moving average of $55.08. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.91 and a current ratio of 2.24.

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

IBP has been the subject of several recent analyst reports. Royal Bank of Canada set a $50.00 target price on shares of Installed Building Products and gave the company a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank raised their target price on shares of Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, May 6th. Nomura reiterated a “neutral” rating and issued a $50.00 target price (down from $54.00) on shares of Installed Building Products in a research note on Thursday, May 16th. Finally, Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Installed Building Products has a consensus rating of “Hold” and an average price target of $47.07.

In other Installed Building Products news, 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 transaction of $143,071.44. Following the completion of the sale, the director now directly owns 11,102 shares in the company, valued at $599,841.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jay P. Elliott sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.57, for a total transaction of $791,265.00. Following the sale, the chief operating officer now owns 45,529 shares of the company’s stock, valued at $2,484,517.53. The disclosure for this sale can be found here. Insiders have sold 129,605 shares of company stock valued at $7,242,085 over the last 90 days. Company insiders own 25.20% of the company’s stock.

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.

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

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