Pembroke Management LTD Has $35.44 Million Stake in Installed Building Products, Inc. $IBP

Pembroke Management LTD cut its position in Installed Building Products, Inc. (NYSE:IBP) by 31.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 143,658 shares of the construction company’s stock after selling 67,302 shares during the period. Installed Building Products comprises about 3.5% of Pembroke Management LTD’s portfolio, making the stock its 8th largest position. Pembroke Management LTD owned approximately 0.53% of Installed Building Products worth $35,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBP. Timucuan Asset Management Inc. FL increased its position in shares of Installed Building Products by 73.2% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after buying an additional 366,250 shares in the last quarter. Eminence Capital LP lifted its holdings in Installed Building Products by 48.5% during the second quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock worth $170,421,000 after acquiring an additional 308,717 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in Installed Building Products by 4,659.1% in the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock valued at $30,996,000 after acquiring an additional 168,285 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Installed Building Products by 84.1% in the second quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock worth $49,893,000 after acquiring an additional 126,435 shares in the last quarter. Finally, Burgundy Asset Management Ltd. bought a new stake in shares of Installed Building Products in the second quarter worth about $13,880,000. 99.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBP shares. Weiss Ratings upgraded Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 target price on shares of Installed Building Products in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. Zacks Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Evercore ISI set a $265.00 price objective on shares of Installed Building Products in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $235.36.

Installed Building Products Price Performance

Shares of IBP opened at $309.60 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. Installed Building Products, Inc. has a twelve month low of $150.83 and a twelve month high of $317.86. The stock has a market capitalization of $8.40 billion, a P/E ratio of 33.33, a P/E/G ratio of 5.81 and a beta of 1.91. The company has a 50 day moving average of $269.50 and a 200-day moving average of $251.29.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 earnings per share. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, December 15th. Installed Building Products’s dividend payout ratio is currently 15.93%.

Insider Activity

In related news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the transaction, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the transaction, the director owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This represents a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is owned by company insiders.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.